Middleby (NASDAQ:MIDD) Given New $200.00 Price Target at Canaccord Genuity Group

Middleby (NASDAQ:MIDD) had its price target hoisted by stock analysts at Canaccord Genuity Group from $192.00 to $200.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 22.51% from the stock’s current price.

A number of other brokerages also recently weighed in on MIDD. Robert W. Baird boosted their target price on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price objective on shares of Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a research report on Wednesday. Barclays increased their price objective on Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday. KeyCorp boosted 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. Finally, StockNews.com lowered Middleby from a “buy” rating to a “hold” rating in a research note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Middleby currently has an average rating of “Hold” and a consensus target price of $180.86.

Middleby Stock Down 1.3 %

NASDAQ MIDD opened at $163.25 on Wednesday. The stock’s 50 day simple moving average is $152.97 and its 200 day simple moving average is $143.29. Middleby has a one year low of $118.41 and a one year high of $182.73. The firm has a market cap of $8.78 billion, a PE ratio of 22.52 and a beta of 1.64. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70.

Middleby (NASDAQ:MIDD) last announced 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. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $996.69 million. During the same quarter in the prior year, the business earned $2.65 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. As a group, sell-side analysts forecast that Middleby will post 9.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Middleby

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MIDD. Covestor Ltd boosted its holdings in Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after buying an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Middleby by 820.0% during the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 287 shares during the period. UMB Bank n.a. increased its stake in Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 116 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Middleby in the third quarter worth $72,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Middleby in the fourth quarter worth $71,000. Institutional investors own 98.55% of the company’s stock.

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.