Middleby (NASDAQ:MIDD) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Middleby (NASDAQ:MIDD) had its price target hoisted by Canaccord Genuity Group from $192.00 to $200.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities research analysts have also recently weighed in on the company. Robert W. Baird upped their target price on Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. increased their price target on Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a research report on Wednesday. Barclays increased their price target on Middleby from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group reissued a “hold” rating and set a $160.00 price target (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Finally, StockNews.com downgraded Middleby from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $180.86.

Middleby Price Performance

MIDD opened at $165.36 on Wednesday. The business has a fifty day moving average of $152.36 and a 200 day moving average of $143.15. Middleby has a 52-week low of $118.41 and a 52-week high of $182.73. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The stock has a market cap of $8.90 billion, a P/E ratio of 22.81 and a beta of 1.64.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating 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 company 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. Middleby’s revenue was up .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Middleby will post 9.11 EPS for the current year.

Institutional Investors Weigh In On Middleby

A number of institutional investors have recently added to or reduced their stakes in the stock. Forum Financial Management LP bought a new stake in Middleby during the fourth quarter valued at about $348,000. Burgundy Asset Management Ltd. bought a new stake in Middleby during the fourth quarter valued at about $207,000. Two Sigma Advisers LP bought a new stake in Middleby during the fourth quarter valued at about $298,000. Two Sigma Investments LP bought a new stake in Middleby during the fourth quarter valued at about $1,621,000. Finally, Teza Capital Management LLC bought a new stake in Middleby during the fourth quarter valued at about $2,129,000. 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.