Analysts Set The Middleby Co. (NASDAQ:MIDD) Price Target at $159.38

The Middleby Co. (NASDAQ:MIDD) has received an average rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $159.38.

A number of brokerages have recently weighed in on MIDD. Jefferies Financial Group raised their price objective on shares of Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Canaccord Genuity Group raised their price objective on shares of Middleby from $164.00 to $166.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st.

Middleby Stock Performance

NASDAQ MIDD opened at $141.83 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.31 and a quick ratio of 1.21. Middleby has a 1 year low of $109.59 and a 1 year high of $161.01. The company has a market capitalization of $7.60 billion, a PE ratio of 19.14 and a beta of 1.58. The company has a fifty day moving average of $149.50 and a two-hundred day moving average of $140.33.

Middleby (NASDAQ:MIDD) last announced its earnings results on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.21. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. Middleby had a net margin of 9.93% and a return on equity of 16.99%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.57 earnings per share. As a group, analysts expect that Middleby will post 10.27 earnings per share for the current year.

Insider Buying and Selling at Middleby

In other news, Director Cathy L. Mccarthy sold 1,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total value of $153,120.00. Following the transaction, the director now owns 7,971 shares in the company, valued at approximately $1,220,519.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Chapin Sarah Palisi sold 350 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $151.47, for a total value of $53,014.50. Following the transaction, the director now owns 6,306 shares in the company, valued at $955,169.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cathy L. Mccarthy sold 1,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total value of $153,120.00. Following the completion of the transaction, the director now owns 7,971 shares in the company, valued at approximately $1,220,519.52. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On Middleby

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates bought a new stake in shares of Middleby in the third quarter valued at approximately $575,000. Simon Quick Advisors LLC lifted its position in Middleby by 44.0% in the third quarter. Simon Quick Advisors LLC now owns 2,353 shares of the industrial products company’s stock worth $301,000 after purchasing an additional 719 shares during the period. Strs Ohio lifted its position in Middleby by 9.4% in the third quarter. Strs Ohio now owns 12,068 shares of the industrial products company’s stock worth $1,544,000 after purchasing an additional 1,037 shares during the period. Inspire Investing LLC lifted its position in Middleby by 12.2% in the third quarter. Inspire Investing LLC now owns 7,354 shares of the industrial products company’s stock worth $941,000 after purchasing an additional 802 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. lifted its position in Middleby by 1.2% in the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 49,154 shares of the industrial products company’s stock worth $6,292,000 after purchasing an additional 586 shares during the period. 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.