The Middleby Co. (NASDAQ:MIDD) Receives $174.67 Consensus Target Price from Brokerages

The Middleby Co. (NASDAQ:MIDD) has earned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $178.83.

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Middleby from $134.00 to $145.00 and gave the company an “underweight” rating in a research note on Monday. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. KeyCorp upped their target price on Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Canaccord Genuity Group boosted their price target on shares of Middleby from $155.00 to $192.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, StockNews.com lowered shares of Middleby from a “buy” rating to a “hold” rating in a research note on Monday, January 27th.

Institutional Trading of Middleby

Several institutional investors have recently made changes to their positions in MIDD. Algert Global LLC purchased a new position in Middleby in the second quarter worth $662,000. Creative Planning boosted its holdings in shares of Middleby by 6.8% in the 2nd quarter. Creative Planning now owns 7,700 shares of the industrial products company’s stock worth $944,000 after buying an additional 492 shares during the last quarter. Quarry LP increased its holdings in Middleby by 133.3% during the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after buying an additional 132 shares during the last quarter. Quent Capital LLC raised its position in Middleby by 4.5% in the third quarter. Quent Capital LLC now owns 7,492 shares of the industrial products company’s stock worth $1,061,000 after acquiring an additional 323 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in Middleby by 13.9% in the third quarter. Handelsbanken Fonder AB now owns 13,900 shares of the industrial products company’s stock valued at $1,934,000 after acquiring an additional 1,700 shares during the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Trading Up 0.3 %

NASDAQ:MIDD opened at $167.11 on Friday. Middleby has a 12 month low of $118.41 and a 12 month high of $177.90. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $8.99 billion, a price-to-earnings ratio of 23.05 and a beta of 1.63. The firm has a fifty day simple moving average of $144.92 and a two-hundred day simple moving average of $139.92.

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.