The Middleby Corporation (NASDAQ:MIDD) Receives $163.83 Consensus Price Target from Analysts

Shares of The Middleby Corporation (NASDAQ:MIDD) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $163.8333.

MIDD has been the topic of a number of recent analyst reports. Zacks Research cut shares of Middleby from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Barclays set a $168.00 target price on shares of Middleby and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. lifted their price target on shares of Middleby from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Weiss Ratings restated a “sell (d)” rating on shares of Middleby in a report on Monday, December 29th. Finally, Canaccord Genuity Group raised their price objective on Middleby from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, December 5th.

Insiders Place Their Bets

In other news, Director Robert A. Nerbonne acquired 780 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were bought at an average price of $128.52 per share, for a total transaction of $100,245.60. Following the completion of the purchase, the director directly owned 21,471 shares of the company’s stock, valued at approximately $2,759,452.92. This trade represents a 3.77% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Middleby

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Torren Management LLC acquired a new position in shares of Middleby in the 4th quarter worth approximately $25,000. Clearstead Advisors LLC increased its holdings in shares of Middleby by 201.8% in the fourth quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company’s stock valued at $25,000 after buying an additional 111 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Middleby during the 3rd quarter valued at $27,000. Larson Financial Group LLC lifted its position in shares of Middleby by 1,292.9% during the 4th quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 181 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Middleby during the 2nd quarter worth $30,000. 98.55% of the stock is currently owned by institutional investors.

Middleby Price Performance

MIDD stock opened at $163.93 on Thursday. The business has a 50 day moving average price of $150.94 and a 200 day moving average price of $137.45. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.69. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of -37.26 and a beta of 1.40. Middleby has a fifty-two week low of $110.82 and a fifty-two week high of $182.73.

Middleby Company Profile

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid‐cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.