Middleby Corp (NASDAQ:MIDD) Receives Consensus Rating of “Hold” from Brokerages

Middleby Corp (NASDAQ:MIDD) has received an average recommendation of “Hold” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $141.57.

Several research analysts have weighed in on MIDD shares. ValuEngine cut Middleby from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. BidaskClub upgraded Middleby from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. Citigroup lowered their price objective on Middleby from $138.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Zacks Investment Research upgraded Middleby from a “sell” rating to a “hold” rating and set a $126.00 price objective on the stock in a research report on Wednesday, October 23rd. Finally, TheStreet cut Middleby from a “b-” rating to a “c” rating in a research report on Thursday, August 29th.

In related news, Director Robert A. Nerbonne purchased 420 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $120.24 per share, for a total transaction of $50,500.80. Following the completion of the transaction, the director now owns 1,282 shares of the company’s stock, valued at $154,147.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.98% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MIDD. Fiera Capital Corp grew its position in Middleby by 2.4% in the second quarter. Fiera Capital Corp now owns 2,899,049 shares of the industrial products company’s stock valued at $393,401,000 after acquiring an additional 66,875 shares during the last quarter. BlackRock Inc. grew its position in Middleby by 1.6% in the second quarter. BlackRock Inc. now owns 2,760,992 shares of the industrial products company’s stock valued at $374,667,000 after acquiring an additional 43,929 shares during the last quarter. Janus Henderson Group PLC grew its position in Middleby by 5.4% in the second quarter. Janus Henderson Group PLC now owns 2,559,406 shares of the industrial products company’s stock valued at $347,311,000 after acquiring an additional 130,433 shares during the last quarter. Eminence Capital LP grew its position in Middleby by 712.8% in the second quarter. Eminence Capital LP now owns 1,274,325 shares of the industrial products company’s stock valued at $172,926,000 after acquiring an additional 1,117,543 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Middleby by 16.8% in the second quarter. Wells Fargo & Company MN now owns 1,002,522 shares of the industrial products company’s stock valued at $136,041,000 after acquiring an additional 144,027 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

NASDAQ MIDD traded down $0.71 during trading hours on Monday, reaching $117.53. 267,800 shares of the company’s stock were exchanged, compared to its average volume of 292,311. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.00 and a current ratio of 2.05. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 19.27 and a beta of 1.63. The company’s 50-day moving average is $117.07 and its two-hundred day moving average is $125.10. Middleby has a one year low of $96.65 and a one year high of $142.98.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.09. The firm had revenue of $724.00 million for the quarter, compared to analysts’ expectations of $760.88 million. Middleby had a return on equity of 20.81% and a net margin of 11.55%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.56 EPS. Research analysts predict that Middleby will post 6.75 earnings per share for the current fiscal year.

About Middleby

The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

Read More: How are Outstanding Shares Different from Authorized Shares?

Analyst Recommendations for Middleby (NASDAQ:MIDD)

Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.