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

Shares of The Middleby Co. (NASDAQ:MIDD) have received an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $162.00.

Several analysts have recently weighed in on MIDD shares. TheStreet lowered shares of Middleby from a “b-” rating to a “c+” rating in a report on Thursday, November 2nd. Benchmark decreased their price target on shares of Middleby from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Citigroup decreased their price target on shares of Middleby from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. Canaccord Genuity Group reissued a “buy” rating and set a $173.00 price target on shares of Middleby in a research note on Wednesday, September 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Middleby from $158.00 to $137.00 and set a “neutral” rating on the stock in a research note on Monday, October 16th.

Insider Buying and Selling at Middleby

In other Middleby news, CTO James K. Pool III sold 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $146.68, for a total value of $183,350.00. Following the transaction, the chief technology officer now directly owns 36,408 shares of the company’s stock, valued at $5,340,325.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CTO James K. Pool III sold 1,250 shares of Middleby stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $146.68, for a total transaction of $183,350.00. Following the transaction, the chief technology officer now directly owns 36,408 shares of the company’s stock, valued at $5,340,325.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO James K. Pool III sold 500 shares of Middleby stock in a transaction on Friday, September 1st. The stock was sold at an average price of $146.82, for a total transaction of $73,410.00. Following the transaction, the chief technology officer now directly owns 35,908 shares in the company, valued at $5,272,012.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,200 shares of company stock valued at $320,660. 1.16% of the stock is currently owned by 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. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Middleby during the first quarter worth $821,000. Great West Life Assurance Co. Can raised its holdings in shares of Middleby by 8.4% during the first quarter. Great West Life Assurance Co. Can now owns 30,611 shares of the industrial products company’s stock worth $5,161,000 after acquiring an additional 2,362 shares during the period. Sei Investments Co. raised its holdings in shares of Middleby by 1.0% during the first quarter. Sei Investments Co. now owns 57,728 shares of the industrial products company’s stock worth $9,442,000 after acquiring an additional 588 shares during the period. Baird Financial Group Inc. raised its holdings in shares of Middleby by 136.2% during the first quarter. Baird Financial Group Inc. now owns 4,706 shares of the industrial products company’s stock worth $771,000 after acquiring an additional 2,714 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in Middleby in the 1st quarter valued at $21,366,000. 96.66% of the stock is currently owned by institutional investors and hedge funds.

Middleby Stock Performance

NASDAQ:MIDD opened at $122.98 on Friday. Middleby has a 12-month low of $109.59 and a 12-month high of $162.02. The company has a quick ratio of 1.09, a current ratio of 2.27 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $6.59 billion, a PE ratio of 14.57 and a beta of 1.56. The firm has a 50-day moving average price of $123.97 and a 200 day moving average price of $136.60.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.06. The firm had revenue of $980.65 million during the quarter, compared to analyst estimates of $1.02 billion. Middleby had a net margin of 11.28% and a return on equity of 17.52%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.18 earnings per share. Research analysts anticipate that Middleby will post 9.48 earnings per share for the current fiscal year.

About Middleby

The Middleby Corporation designs, manufactures, markets, 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, and IoT solutions.