Middleby (NASDAQ:MIDD) Cut to Hold at StockNews.com

StockNews.com lowered shares of Middleby (NASDAQ:MIDD) from a buy rating to a hold rating in a research report report published on Wednesday.

Several other research analysts have also issued reports on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 price target (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. JPMorgan Chase & Co. raised their target price on Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group upped their price target on Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. KeyCorp lifted their price objective on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Finally, Barclays upped their target price on shares of Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $180.86.

Middleby Price Performance

Shares of MIDD stock opened at $135.46 on Wednesday. Middleby has a 12 month low of $118.41 and a 12 month high of $182.73. The company has a market capitalization of $7.26 billion, a P/E ratio of 18.68 and a beta of 1.72. The stock has a 50 day moving average of $161.13 and a two-hundred day moving average of $146.49. 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 issued its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.50 by $0.38. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $996.69 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. Middleby’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the business earned $2.65 earnings per share. As a group, equities analysts expect that Middleby will post 9.11 EPS for the current year.

Insider Activity at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $163.51, for a total value of $81,755.00. Following the completion of the sale, the director now owns 6,111 shares in the company, valued at approximately $999,209.61. This trade represents a 7.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.16% of the stock is currently owned by company insiders.

Institutional Trading of Middleby

Several hedge funds have recently modified their holdings of MIDD. Versant Capital Management Inc lifted its holdings in Middleby by 760.0% during the 1st quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company’s stock worth $39,000 after buying an additional 228 shares in the last quarter. UMB Bank n.a. raised its position in shares of Middleby by 41.1% during the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 116 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Middleby during the fourth quarter valued at $71,000. Principal Securities Inc. boosted its holdings in Middleby by 16.0% in the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 78 shares during the last quarter. Finally, Coppell Advisory Solutions LLC increased its position in Middleby by 220.6% in the fourth quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 417 shares during the period. 98.55% of the stock is owned by institutional investors.

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.