Middleby Corp (NASDAQ:MIDD) Given Average Rating of “Hold” by Analysts

Shares of Middleby Corp (NASDAQ:MIDD) have earned a consensus recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $94.20.

A number of research analysts have recently commented on the stock. CL King assumed coverage on shares of Middleby in a report on Tuesday, June 2nd. They issued a “buy” rating and a $86.00 target price for the company. KeyCorp raised shares of Middleby from a “sector weight” rating to an “overweight” rating and set a $90.00 target price for the company in a report on Monday. They noted that the move was a valuation call. Zacks Investment Research downgraded Middleby from a “hold” rating to a “sell” rating and set a $57.00 price objective for the company. in a research note on Tuesday, May 5th. Citigroup upped their price objective on Middleby from $64.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Finally, BidaskClub raised Middleby from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th.

In other Middleby news, Director Robert A. Nerbonne purchased 2,700 shares of the business’s stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $72.73 per share, for a total transaction of $196,371.00. Following the acquisition, the director now owns 2,443 shares of the company’s stock, valued at $177,679.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert A. Nerbonne purchased 1,750 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average price of $56.76 per share, for a total transaction of $99,330.00. Insiders have acquired a total of 7,660 shares of company stock valued at $495,723 in the last three months. Insiders own 1.98% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Utah Retirement Systems lifted its holdings in shares of Middleby by 1.0% in the 4th quarter. Utah Retirement Systems now owns 10,541 shares of the industrial products company’s stock worth $1,155,000 after purchasing an additional 100 shares in the last quarter. Rowland Carmichael Advisors Inc. ADV lifted its stake in Middleby by 6.6% during the 4th quarter. Rowland Carmichael Advisors Inc. ADV now owns 2,807 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 175 shares in the last quarter. Sunbelt Securities Inc. bought a new position in Middleby during the 4th quarter valued at $3,860,000. Alliancebernstein L.P. lifted its stake in Middleby by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 32,322 shares of the industrial products company’s stock valued at $3,540,000 after acquiring an additional 205 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its stake in Middleby by 4.2% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,142 shares of the industrial products company’s stock valued at $563,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 96.34% of the company’s stock.

Shares of MIDD stock traded up $6.95 on Tuesday, reaching $79.93. The company had a trading volume of 1,472,000 shares, compared to its average volume of 1,241,998. The stock has a market capitalization of $4.06 billion, a PE ratio of 12.45 and a beta of 1.60. The company has a quick ratio of 1.46, a current ratio of 2.48 and a debt-to-equity ratio of 1.15. Middleby has a one year low of $41.73 and a one year high of $142.98. The business’s 50-day moving average is $72.22 and its 200 day moving average is $85.03.

Middleby (NASDAQ:MIDD) last posted its earnings results on Thursday, May 7th. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. The firm had revenue of $677.50 million during the quarter, compared to analysts’ expectations of $677.37 million. Middleby had a net margin of 12.10% and a return on equity of 20.40%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 earnings per share. On average, sell-side analysts forecast that Middleby will post 3.93 earnings per share for the current fiscal year.

About Middleby

The Middleby Corporation designs, manufactures, markets, distributes, and services 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 foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

Further Reading: Net Income

Analyst Recommendations for Middleby (NASDAQ:MIDD)

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