The Middleby Co. (NASDAQ:MIDD) Receives Consensus Rating of “Moderate Buy” from Analysts

The Middleby Co. (NASDAQ:MIDDGet Rating) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $166.86.

Several equities analysts recently weighed in on MIDD shares. Robert W. Baird cut their price target on shares of Middleby from $145.00 to $140.00 in a report on Friday, November 11th. StockNews.com started coverage on shares of Middleby in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Canaccord Genuity Group started coverage on shares of Middleby in a report on Thursday, November 17th. They issued a “buy” rating and a $171.00 price target on the stock. Canaccord Genuity Group started coverage on shares of Middleby in a report on Wednesday, November 16th. They issued a “buy” rating on the stock. Finally, Benchmark cut their price target on shares of Middleby to $170.00 in a report on Tuesday, November 15th.

Insider Transactions at Middleby

In other news, Director Chapin Sarah Palisi sold 225 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $148.00, for a total transaction of $33,300.00. Following the sale, the director now owns 7,235 shares of the company’s stock, valued at approximately $1,070,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Chapin Sarah Palisi sold 225 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $148.00, for a total transaction of $33,300.00. Following the sale, the director now owns 7,235 shares of the company’s stock, valued at approximately $1,070,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Miller III sold 1,161 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $139.26, for a total transaction of $161,680.86. Following the sale, the director now directly owns 11,880 shares in the company, valued at approximately $1,654,408.80. The disclosure for this sale can be found here. Insiders have sold 1,636 shares of company stock valued at $230,696 in the last 90 days. 1.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Middleby

A number of hedge funds and other institutional investors have recently made changes to their positions in MIDD. Covington Capital Management purchased a new position in shares of Middleby during the 3rd quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC lifted its position in shares of Middleby by 55.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 254 shares of the industrial products company’s stock valued at $32,000 after buying an additional 91 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Middleby by 52.4% during the 2nd quarter. Parallel Advisors LLC now owns 291 shares of the industrial products company’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Middleby by 100.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 309 shares of the industrial products company’s stock valued at $40,000 after buying an additional 155 shares in the last quarter. Finally, Elequin Capital LP purchased a new position in shares of Middleby during the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Performance

MIDD opened at $142.06 on Friday. Middleby has a 52-week low of $120.30 and a 52-week high of $201.34. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 1.08. The company has a market cap of $7.65 billion, a P/E ratio of 19.43 and a beta of 1.53. The firm’s 50-day moving average price is $134.35 and its 200-day moving average price is $138.40.

Middleby Company Profile

(Get Rating)

The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry.

Further Reading

Analyst Recommendations for Middleby (NASDAQ:MIDD)

Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.