Middleby’s (MIDD) “Buy” Rating Reiterated at Canaccord Genuity Group

Middleby (NASDAQ:MIDD)‘s stock had its “buy” rating reaffirmed by Canaccord Genuity Group in a research note issued on Friday,Benzinga reports. They presently have a $155.00 price target on the industrial products company’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 15.05% from the stock’s current price.

Other equities research analysts have also issued reports about the company. StockNews.com raised Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and issued a $164.00 price target on shares of Middleby in a research report on Saturday, September 14th. Finally, Jefferies Financial Group restated a “hold” rating and set a $160.00 price objective (down previously from $170.00) on shares of Middleby in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $154.67.

Middleby Stock Up 1.5 %

MIDD opened at $134.72 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The company has a market capitalization of $7.25 billion, a PE ratio of 18.58 and a beta of 1.60. The stock’s fifty day moving average is $138.88 and its 200-day moving average is $134.69. Middleby has a one year low of $118.41 and a one year high of $161.01.

Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). The business had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.35 earnings per share. On average, equities analysts predict that Middleby will post 9.13 EPS for the current fiscal year.

Institutional Trading of Middleby

A number of institutional investors have recently bought and sold shares of MIDD. Select Equity Group L.P. increased its holdings in Middleby by 15.4% in the second quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock worth $779,835,000 after buying an additional 846,884 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Middleby by 17.7% during the 3rd quarter. Pacer Advisors Inc. now owns 1,138,999 shares of the industrial products company’s stock worth $158,469,000 after purchasing an additional 171,634 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Middleby by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 936,596 shares of the industrial products company’s stock valued at $130,341,000 after purchasing an additional 8,926 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Middleby by 43.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 903,346 shares of the industrial products company’s stock valued at $110,768,000 after purchasing an additional 274,513 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Middleby by 30.6% during the second quarter. Principal Financial Group Inc. now owns 713,618 shares of the industrial products company’s stock worth $87,497,000 after buying an additional 167,298 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

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.