Analysts Set The Middleby Co. (NASDAQ:MIDD) PT at $179.43

Shares of The Middleby Co. (NASDAQ:MIDD) have been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $179.43.

MIDD has been the subject of a number of recent research reports. Barclays lifted their price objective on Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Robert W. Baird upped their price objective on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. StockNews.com cut shares of Middleby from a “buy” rating to a “hold” rating in a research note on Thursday, April 10th. Canaccord Genuity Group raised their price objective on Middleby from $192.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, KeyCorp reduced their target price on Middleby from $185.00 to $175.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th.

Insider Activity at Middleby

In other news, Director Chapin Sarah Palisi sold 500 shares of Middleby stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the sale, the director now directly owns 6,111 shares of the company’s stock, valued at approximately $999,209.61. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.18% of the company’s stock.

Institutional Trading of Middleby

A number of hedge funds have recently made changes to their positions in MIDD. Lorne Steinberg Wealth Management Inc. lifted its position in shares of Middleby by 0.3% during the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company’s stock worth $3,323,000 after purchasing an additional 70 shares during the last quarter. Principal Securities Inc. raised its position in shares of Middleby by 16.0% during the 4th 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 in the last quarter. CIBC Asset Management Inc boosted its holdings in Middleby by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company’s stock worth $224,000 after purchasing an additional 81 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of Middleby by 1.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,167 shares of the industrial products company’s stock worth $971,000 after purchasing an additional 81 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Middleby by 2.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,472 shares of the industrial products company’s stock valued at $470,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Down 0.4 %

Middleby stock opened at $126.91 on Friday. Middleby has a fifty-two week low of $118.41 and a fifty-two week high of $182.73. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 17.50 and a beta of 1.44. The stock’s fifty day moving average is $152.09 and its two-hundred day moving average is $145.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

Middleby (NASDAQ:MIDD) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.38. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $996.69 million. During the same period last year, the firm posted $2.65 EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Analysts predict that Middleby will post 9.11 EPS for the current fiscal year.

About Middleby

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.