Robert W. Baird Boosts Middleby (NASDAQ:MIDD) Price Target to $227.00

Middleby (NASDAQ:MIDD) had its target price raised by Robert W. Baird from $157.00 to $227.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Several other equities research analysts also recently commented on the stock. Jefferies Financial Group restated a “hold” rating and issued a $160.00 target price (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Canaccord Genuity Group boosted their target price on shares of Middleby from $155.00 to $192.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research note on Monday. Finally, KeyCorp boosted their target price on shares of Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Middleby currently has an average rating of “Hold” and an average target price of $174.67.

Middleby Trading Up 0.9 %

Shares of Middleby stock opened at $171.66 on Tuesday. The firm has a market capitalization of $9.23 billion, a PE ratio of 23.68 and a beta of 1.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The company’s fifty day moving average price is $142.33 and its two-hundred day moving average price is $138.57. Middleby has a 52-week low of $118.41 and a 52-week high of $177.90.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. During the same period last year, the firm earned $2.35 EPS. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, analysts expect that Middleby will post 9.12 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MIDD. Quarry LP lifted its position in Middleby by 133.3% during the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after buying an additional 132 shares in the last quarter. Covestor Ltd lifted its position in Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 190 shares during the period. UMB Bank n.a. lifted its position in Middleby by 93.2% during the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 136 shares during the period. Avior Wealth Management LLC lifted its position in Middleby by 820.0% during the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 287 shares during the period. Finally, GAMMA Investing LLC lifted its position in Middleby by 91.8% during the 3rd quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 234 shares during the period. 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.