StockNews.com Upgrades Middleby (NASDAQ:MIDD) to Buy

StockNews.com upgraded shares of Middleby (NASDAQ:MIDD) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

A number of other research firms have also recently weighed in on MIDD. Barclays boosted their price objective on shares of Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased 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, February 26th. Robert W. Baird boosted their target price on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. KeyCorp lifted their price objective on shares of Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Finally, Canaccord Genuity Group boosted their price target on shares of Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Middleby presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.86.

Middleby Trading Up 0.4 %

MIDD opened at $157.13 on Tuesday. The stock has a 50-day moving average of $161.07 and a 200 day moving average of $145.78. 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 has a 12 month low of $118.41 and a 12 month high of $182.73. The firm has a market cap of $8.43 billion, a P/E ratio of 21.67 and a beta of 1.72.

Middleby (NASDAQ:MIDD) last announced its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $996.69 million. During the same quarter in the previous year, the business earned $2.65 EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. As a group, research analysts forecast that Middleby will post 9.11 EPS for the current year.

Insider Buying and Selling at Middleby

In related news, Director Chapin Sarah Palisi sold 500 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was 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 directly owns 6,111 shares of the company’s stock, valued at $999,209.61. This represents a 7.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Middleby

Large investors have recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in Middleby by 121.4% during the 4th quarter. Blue Trust Inc. now owns 4,423 shares of the industrial products company’s stock valued at $615,000 after acquiring an additional 2,425 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Middleby in the 4th quarter valued at $469,000. First Citizens Bank & Trust Co. acquired a new position in shares of Middleby during the fourth quarter worth about $219,000. GHP Investment Advisors Inc. boosted its holdings in Middleby by 13.7% in the 4th quarter. GHP Investment Advisors Inc. now owns 22,929 shares of the industrial products company’s stock worth $3,106,000 after acquiring an additional 2,763 shares during the period. Finally, Olstein Capital Management L.P. grew its holdings in Middleby by 3.6% during the 4th quarter. Olstein Capital Management L.P. now owns 71,000 shares of the industrial products company’s stock valued at $9,617,000 after purchasing an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

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.