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

The Middleby Co. (NASDAQ:MIDD) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $156.50.

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price objective on shares of Middleby in a report on Friday, September 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $164.00 target price on shares of Middleby in a research report on Saturday, September 14th. Robert W. Baird upped their target price on Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Raymond James began coverage on Middleby in a research report on Friday, June 28th. They issued a “market perform” rating on the stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Epoch Investment Partners Inc. raised its stake in Middleby by 481.0% in the 4th quarter. Epoch Investment Partners Inc. now owns 68,400 shares of the industrial products company’s stock valued at $10,066,000 after purchasing an additional 56,627 shares during the last quarter. PEAK6 Investments LLC acquired a new position in Middleby in the 4th quarter valued at $3,435,000. Balyasny Asset Management L.P. raised its stake in Middleby by 533.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 483,214 shares of the industrial products company’s stock valued at $71,115,000 after purchasing an additional 406,958 shares during the last quarter. Retirement Systems of Alabama raised its stake in Middleby by 10.1% in the 1st quarter. Retirement Systems of Alabama now owns 73,925 shares of the industrial products company’s stock valued at $11,886,000 after purchasing an additional 6,789 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Middleby by 278.9% in the 1st quarter. Tidal Investments LLC now owns 9,060 shares of the industrial products company’s stock valued at $1,457,000 after purchasing an additional 6,669 shares during the last quarter. 98.55% of the stock is owned by institutional investors and hedge funds.

Middleby Stock Performance

Shares of Middleby stock opened at $134.48 on Monday. The company has a market capitalization of $7.23 billion, a PE ratio of 18.73 and a beta of 1.58. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.43 and a current ratio of 2.50. The company has a 50-day simple moving average of $137.69 and a two-hundred day simple moving average of $136.23. Middleby has a one year low of $109.59 and a one year high of $161.01.

Middleby (NASDAQ:MIDD) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The business had revenue of $991.55 million during the quarter, compared to the consensus estimate of $994.05 million. During the same period in the previous year, the company posted $2.47 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. Research analysts expect that Middleby will post 9.63 EPS for the current fiscal year.

Middleby Company Profile

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.