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

Middleby (NASDAQ:MIDD) had its price target boosted by Barclays from $160.00 to $180.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other analysts also recently issued research reports about the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price objective (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Robert W. Baird raised their price target on Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price objective on Middleby from $134.00 to $145.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. StockNews.com cut Middleby from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Canaccord Genuity Group lifted their price target on shares of Middleby from $155.00 to $192.00 and gave the company a “buy” 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $180.86.

Middleby Stock Performance

Shares of NASDAQ:MIDD opened at $165.36 on Wednesday. The firm’s 50 day simple moving average is $152.36 and its 200 day simple moving average is $143.15. Middleby has a fifty-two week low of $118.41 and a fifty-two week high of $182.73. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of 22.81 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 posted its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.38. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the business posted $2.65 earnings per share. As a group, sell-side analysts forecast that Middleby will post 9.11 earnings per share for the current year.

Hedge Funds Weigh In On Middleby

A number of large investors have recently bought and sold shares of the company. Forum Financial Management LP acquired a new stake in shares of Middleby in the fourth quarter valued at approximately $348,000. Burgundy Asset Management Ltd. acquired a new stake in Middleby in the 4th quarter valued at $207,000. Two Sigma Advisers LP bought a new stake in Middleby during the 4th quarter worth about $298,000. Two Sigma Investments LP bought a new stake in Middleby during the 4th quarter worth about $1,621,000. Finally, Teza Capital Management LLC acquired a new position in shares of Middleby during the 4th quarter worth about $2,129,000. Institutional investors and hedge funds 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.