The Middleby Co. (NASDAQ:MIDD) Receives $159.38 Consensus PT from Analysts

The Middleby Co. (NASDAQ:MIDD) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $159.38.

A number of equities research analysts recently weighed in on the stock. TheStreet upgraded shares of Middleby from a “c+” rating to a “b-” rating in a report on Monday, January 8th. Canaccord Genuity Group raised their target price on Middleby from $164.00 to $166.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Jefferies Financial Group upped their price target on Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, January 11th.

Insider Buying and Selling

In other Middleby news, Director Chapin Sarah Palisi sold 350 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $151.47, for a total transaction of $53,014.50. Following the completion of the transaction, the director now owns 6,306 shares in the company, valued at $955,169.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Chapin Sarah Palisi sold 350 shares of Middleby stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $151.47, for a total transaction of $53,014.50. Following the completion of the sale, the director now owns 6,306 shares in the company, valued at approximately $955,169.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Cathy L. Mccarthy sold 1,000 shares of Middleby stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total transaction of $153,120.00. Following the sale, the director now owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The disclosure for this sale can be found here. 1.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Middleby by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 5,097,488 shares of the industrial products company’s stock worth $750,197,000 after purchasing an additional 22,978 shares in the last quarter. Select Equity Group L.P. grew its position in Middleby by 5.4% during the first quarter. Select Equity Group L.P. now owns 4,782,965 shares of the industrial products company’s stock valued at $701,230,000 after acquiring an additional 246,174 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Middleby by 23.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,171,437 shares of the industrial products company’s stock worth $290,756,000 after acquiring an additional 407,150 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Middleby by 5.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,826,029 shares of the industrial products company’s stock worth $299,359,000 after acquiring an additional 94,230 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Middleby by 13.3% in the 4th quarter. Nordea Investment Management AB now owns 1,696,476 shares of the industrial products company’s stock valued at $251,621,000 after purchasing an additional 198,859 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Price Performance

Shares of NASDAQ MIDD opened at $145.42 on Monday. The company has a current ratio of 2.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average price is $151.30 and its 200-day moving average price is $138.19. The firm has a market capitalization of $7.79 billion, a P/E ratio of 19.62 and a beta of 1.56. Middleby has a 1-year low of $109.59 and a 1-year high of $161.01.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.21. Middleby had a net margin of 9.93% and a return on equity of 16.99%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $2.57 EPS. Middleby’s revenue was down 2.2% compared to the same quarter last year. Equities research analysts anticipate that Middleby will post 10.32 earnings per share for the current fiscal year.

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.