Middleby (NASDAQ:MIDD) Earns Hold Rating from Jefferies Financial Group

Middleby (NASDAQ:MIDD)‘s stock had its “hold” rating reiterated by stock analysts at Jefferies Financial Group in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $160.00 price target on the industrial products company’s stock, down from their previous price target of $170.00. Jefferies Financial Group’s price target points to a potential upside of 15.32% from the stock’s current price.

Other equities research analysts have also recently issued research 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 target price on shares of Middleby in a research note on Saturday, September 14th. Finally, Canaccord Genuity Group dropped their price target on shares of Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One investment 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $154.67.

Middleby Price Performance

MIDD stock opened at $138.75 on Thursday. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $7.46 billion, a PE ratio of 19.14 and a beta of 1.60. Middleby has a one year low of $118.41 and a one year high of $161.01. The firm has a 50-day moving average of $138.68 and a two-hundred day moving average of $134.36.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data 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). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. During the same quarter in the previous year, the business posted $2.35 earnings per share. The company’s revenue was down 3.9% compared to the same quarter last year. On average, analysts forecast that Middleby will post 9.12 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Cetera Advisors LLC increased its stake in shares of Middleby by 13.7% in the first quarter. Cetera Advisors LLC now owns 1,560 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 188 shares during the period. SG Americas Securities LLC grew its holdings in Middleby by 319.7% in the 2nd quarter. SG Americas Securities LLC now owns 10,979 shares of the industrial products company’s stock valued at $1,346,000 after buying an additional 8,363 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Middleby in the 2nd quarter worth approximately $225,000. Blue Trust Inc. lifted its holdings in shares of Middleby by 4.8% during the second quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock worth $248,000 after buying an additional 93 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its position in shares of Middleby by 2.9% in the second quarter. Boston Trust Walden Corp now owns 44,866 shares of the industrial products company’s stock valued at $5,501,000 after acquiring an additional 1,275 shares during the period. Institutional investors 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.