Investment Analysts’ Weekly Ratings Updates for Middleby (MIDD)

A number of research firms have changed their ratings and price targets for Middleby (NASDAQ: MIDD):

  • 5/16/2022 – Middleby had its price target lowered by analysts at Citigroup Inc. to $180.00. They now have a “na” rating on the stock.
  • 5/11/2022 – Middleby was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 5/11/2022 – Middleby had its price target lowered by analysts at Robert W. Baird from $211.00 to $201.00.
  • 5/11/2022 – Middleby had its price target lowered by analysts at KeyCorp from $200.00 to $182.00.
  • 4/26/2022 – Middleby had its price target lowered by analysts at KeyCorp from $220.00 to $200.00. They now have an “overweight” rating on the stock.
  • 4/4/2022 – Middleby had its price target lowered by analysts at Citigroup Inc. from $215.00 to $190.00. They now have a “buy” rating on the stock.
  • 3/31/2022 – Middleby is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/28/2022 – Middleby had its price target lowered by analysts at JPMorgan Chase & Co. from $198.00 to $195.00. They now have a “neutral” rating on the stock.

Shares of Middleby stock opened at $144.98 on Friday. The stock’s fifty day moving average is $152.72 and its two-hundred day moving average is $174.02. The company has a market capitalization of $7.89 billion, a PE ratio of 16.98 and a beta of 1.56. The company has a quick ratio of 0.98, a current ratio of 1.99 and a debt-to-equity ratio of 1.06. The Middleby Co. has a 52 week low of $127.02 and a 52 week high of $201.34.

Middleby (NASDAQ:MIDDGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The industrial products company reported $2.13 EPS for the quarter, beating the consensus estimate of $2.12 by $0.01. The company had revenue of $994.68 million for the quarter, compared to the consensus estimate of $934.97 million. Middleby had a return on equity of 19.53% and a net margin of 13.91%. Middleby’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.79 EPS. As a group, research analysts anticipate that The Middleby Co. will post 9.57 earnings per share for the current year.

In related news, Director Robert A. Nerbonne acquired 600 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The stock was purchased at an average cost of $168.84 per share, for a total transaction of $101,304.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John R. Miller III sold 2,769 shares of the company’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $166.45, for a total value of $460,900.05. The disclosure for this sale can be found here. Insiders acquired a total of 11,585 shares of company stock valued at $1,572,270 over the last quarter. Company insiders own 1.24% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its holdings in shares of Middleby by 410.3% in the third quarter. Massmutual Trust Co. FSB ADV now owns 148 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 119 shares during the period. Freedman Financial Associates Inc. acquired a new position in shares of Middleby in the fourth quarter valued at about $35,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Middleby by 39.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 191 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 54 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Middleby by 170.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 243 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 153 shares during the period. Finally, Elequin Capital LP acquired a new position in shares of Middleby in the first quarter valued at about $41,000. Institutional investors own 99.88% of the company’s stock.

The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, 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; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.

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