Middleby (NASDAQ:MIDD) Price Target Raised to $180.00

Middleby (NASDAQ:MIDD) had its target price upped by research analysts at Barclays from $160.00 to $180.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price target indicates a potential upside of 10.26% from the stock’s current price.

Several other research firms have also issued reports on MIDD. JPMorgan Chase & Co. raised their price target on shares of Middleby from $134.00 to $145.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Robert W. Baird boosted their target price on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. StockNews.com cut shares of Middleby from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. KeyCorp lifted their price objective on Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Finally, Canaccord Genuity Group upped their target price on Middleby from $155.00 to $192.00 and gave the company a “buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $180.86.

Middleby Stock Performance

Shares of Middleby stock opened at $163.25 on Wednesday. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 22.52 and a beta of 1.64. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. Middleby has a twelve month low of $118.41 and a twelve month high of $182.73. The company’s fifty day moving average is $152.97 and its 200 day moving average is $143.29.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.38. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $996.69 million. During the same quarter in the previous year, the company posted $2.65 EPS. The business’s revenue was up .4% on a year-over-year basis. Sell-side analysts forecast that Middleby will post 9.11 EPS for the current year.

Institutional Trading of Middleby

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Middleby by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,260,935 shares of the industrial products company’s stock valued at $712,594,000 after acquiring an additional 21,771 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Middleby by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,895,553 shares of the industrial products company’s stock worth $256,753,000 after purchasing an additional 35,449 shares in the last quarter. Turtle Creek Asset Management Inc. grew its position in Middleby by 2.9% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 1,866,359 shares of the industrial products company’s stock valued at $252,798,000 after purchasing an additional 53,276 shares during the period. Earnest Partners LLC increased its stake in Middleby by 3.8% during the 4th quarter. Earnest Partners LLC now owns 1,311,966 shares of the industrial products company’s stock valued at $177,706,000 after purchasing an additional 47,443 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Middleby by 4,494.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company’s stock worth $171,524,000 after buying an additional 1,238,767 shares during the last quarter. 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.