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

Shares of The Middleby Co. (NASDAQ:MIDD) have received an average rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $154.67.

A number of equities analysts have issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $155.00 price target on shares of Middleby in a research report on Friday, December 20th. StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price objective on shares of Middleby in a research report on Saturday, September 14th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 target price (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Select Equity Group L.P. increased its position in Middleby by 15.4% during 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 purchasing an additional 846,884 shares during the last quarter. Pacer Advisors Inc. raised its position 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 valued at $158,469,000 after buying an additional 171,634 shares during the period. Geode Capital Management LLC lifted its holdings in Middleby by 1.0% in the third quarter. Geode Capital Management LLC now owns 936,596 shares of the industrial products company’s stock valued at $130,341,000 after acquiring an additional 8,926 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Middleby by 43.7% in the second quarter. Dimensional Fund Advisors LP now owns 903,346 shares of the industrial products company’s stock worth $110,768,000 after acquiring an additional 274,513 shares during the period. Finally, Ariel Investments LLC increased its stake in Middleby by 58.0% during the second quarter. Ariel Investments LLC now owns 510,127 shares of the industrial products company’s stock worth $62,547,000 after acquiring an additional 187,304 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Trading Down 0.2 %

Shares of NASDAQ:MIDD opened at $134.23 on Wednesday. The company has a market capitalization of $7.22 billion, a PE ratio of 18.51 and a beta of 1.61. Middleby has a 12-month low of $118.41 and a 12-month high of $161.01. The business has a 50 day moving average of $138.24 and a two-hundred day moving average of $135.60. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66.

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 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 firm had revenue of $942.81 million for the quarter, compared to analysts’ expectations of $996.60 million. During the same period last year, the company posted $2.35 earnings per share. The business’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, analysts forecast that Middleby will post 9.13 EPS for the current 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.