The Middleby Co. (NASDAQ:MIDD – Get Rating) has been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $195.00.
MIDD has been the subject of several recent analyst reports. Robert W. Baird dropped their target price on shares of Middleby from $211.00 to $201.00 in a report on Wednesday, May 11th. JPMorgan Chase & Co. cut their target price on Middleby from $198.00 to $195.00 and set a “neutral” rating for the company in a research report on Monday, March 28th. TheStreet cut Middleby from a “b-” rating to a “c+” rating in a report on Wednesday, May 11th. KeyCorp dropped their price target on Middleby from $200.00 to $182.00 in a research note on Wednesday, May 11th. Finally, Citigroup reduced their price objective on shares of Middleby to $180.00 and set a “na” rating on the stock in a research report on Monday, May 16th.
Shares of MIDD opened at $126.67 on Tuesday. Middleby has a 52 week low of $121.85 and a 52 week high of $201.34. The company has a quick ratio of 0.98, a current ratio of 1.99 and a debt-to-equity ratio of 1.06. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 14.83 and a beta of 1.56. The business has a 50-day simple moving average of $141.46 and a two-hundred day simple moving average of $165.22.
Middleby (NASDAQ:MIDD – Get Rating) last released its earnings results on Tuesday, May 10th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.01. The company had revenue of $994.68 million during the quarter, compared to analyst estimates of $934.97 million. Middleby had a net margin of 13.91% and a return on equity of 19.53%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.79 EPS. On average, equity analysts anticipate that Middleby will post 9.59 earnings per share for the current fiscal year.
In other Middleby news, Director Nassem Ziyad acquired 2,035 shares of the stock in a transaction on Tuesday, May 24th. The stock was acquired at an average price of $135.83 per share, for a total transaction of $276,414.05. Following the completion of the transaction, the director now directly owns 10,845 shares of the company’s stock, valued at $1,473,076.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy John Fitzgerald bought 7,500 shares of Middleby stock in a transaction dated Thursday, May 12th. The stock was acquired at an average price of $132.29 per share, for a total transaction of $992,175.00. Following the completion of the acquisition, the chief executive officer now owns 20,000 shares in the company, valued at $2,645,800. The disclosure for this purchase can be found here. Insiders have acquired a total of 10,985 shares of company stock valued at $1,470,966 in the last 90 days. 1.24% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Boston Partners raised its holdings in Middleby by 7,624.4% during the 4th quarter. Boston Partners now owns 636,180 shares of the industrial products company’s stock valued at $125,200,000 after buying an additional 627,944 shares during the period. Select Equity Group LP raised its stake in shares of Middleby by 91.8% in the first quarter. Select Equity Group LP now owns 690,159 shares of the industrial products company’s stock valued at $113,145,000 after acquiring an additional 330,359 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Middleby by 22.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,731,799 shares of the industrial products company’s stock worth $340,748,000 after acquiring an additional 313,301 shares during the last quarter. Sarasin & Partners LLP boosted its stake in shares of Middleby by 11.4% during the 4th quarter. Sarasin & Partners LLP now owns 1,733,656 shares of the industrial products company’s stock worth $341,114,000 after purchasing an additional 176,759 shares during the period. Finally, Westwood Holdings Group Inc. grew its holdings in Middleby by 32.8% during the 4th quarter. Westwood Holdings Group Inc. now owns 538,634 shares of the industrial products company’s stock valued at $105,982,000 after purchasing an additional 133,166 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.
About Middleby: (Get Rating)
The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, 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; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.
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