The Middleby Co. (NASDAQ:MIDD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of The Middleby Co. (NASDAQ:MIDD) have been given an average rating of “Moderate Buy” by the eight analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $154.67.

Several analysts have recently commented on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $164.00 price objective on shares of Middleby in a research note on Saturday, September 14th. Robert W. Baird raised their target price on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Canaccord Genuity Group decreased their price target on shares of Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd.

Middleby Stock Up 0.9 %

Shares of MIDD opened at $137.22 on Tuesday. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 18.93 and a beta of 1.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The stock has a fifty day moving average of $137.06 and a 200-day moving average of $133.37. Middleby has a 52 week low of $118.41 and a 52 week high of $161.01.

Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.15). The firm had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. Middleby’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.35 EPS. As a group, sell-side analysts anticipate that Middleby will post 9.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Middleby

Several large investors have recently made changes to their positions in MIDD. Allspring Global Investments Holdings LLC lifted its position in Middleby by 1,246.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock worth $28,000 after buying an additional 162 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Middleby by 3.5% in the 1st quarter. Russell Investments Group Ltd. now owns 13,409 shares of the industrial products company’s stock worth $2,156,000 after purchasing an additional 455 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Middleby by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock valued at $822,165,000 after acquiring an additional 15,798 shares during the period. Bessemer Group Inc. raised its stake in shares of Middleby by 20.3% in the first quarter. Bessemer Group Inc. now owns 8,574 shares of the industrial products company’s stock worth $1,378,000 after purchasing an additional 1,447 shares during the last quarter. Finally, Crewe Advisors LLC boosted its holdings in Middleby by 620.0% in the first quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 310 shares during the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

About Middleby

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.