Middleby (NASDAQ:MIDD) Given New $165.00 Price Target at Barclays

Middleby (NASDAQ:MIDD - Get Free Report) had its target price decreased by stock analysts at Barclays from $180.00 to $165.00 in a report released on Monday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. Barclays's price target suggests a potential upside of 10.75% from the company's current price.

Other research analysts have also issued research reports about the stock. Canaccord Genuity Group lowered their price objective on shares of Middleby from $200.00 to $186.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. KeyCorp decreased their price objective on shares of Middleby from $185.00 to $175.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Wall Street Zen downgraded shares of Middleby from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Robert W. Baird dropped their target price on shares of Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Middleby has an average rating of "Moderate Buy" and an average price target of $166.00.

Middleby Trading Down 0.4%

MIDD traded down $0.59 during trading on Monday, hitting $148.98. The company's stock had a trading volume of 194,498 shares, compared to its average volume of 871,143. The stock has a market cap of $7.99 billion, a PE ratio of 18.62 and a beta of 1.57. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.72 and a quick ratio of 1.73. The firm's 50 day moving average price is $146.51 and its 200-day moving average price is $148.37. Middleby has a twelve month low of $121.70 and a twelve month high of $182.73.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.94 by $0.14. The business had revenue of $906.63 million for the quarter, compared to analysts' expectations of $941.46 million. Middleby had a net margin of 11.26% and a return on equity of 14.47%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 earnings per share. On average, analysts expect that Middleby will post 9.11 earnings per share for the current year.

Insider Activity

In other Middleby news, Director Edward P. Garden acquired 137,000 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were acquired at an average cost of $148.03 per share, with a total value of $20,280,110.00. Following the completion of the acquisition, the director directly owned 3,276,834 shares in the company, valued at $485,069,737.02. This trade represents a 4.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have acquired 640,968 shares of company stock valued at $93,495,270. Corporate insiders own 6.18% of the company's stock.

Institutional Investors Weigh In On Middleby

Institutional investors and hedge funds have recently bought and sold shares of the stock. Burgundy Asset Management Ltd. grew its position in Middleby by 5.0% during the first quarter. Burgundy Asset Management Ltd. now owns 1,604 shares of the industrial products company's stock valued at $244,000 after acquiring an additional 77 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Middleby by 23.7% in the second quarter. Signaturefd LLC now owns 418 shares of the industrial products company's stock worth $60,000 after purchasing an additional 80 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Middleby by 1.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,167 shares of the industrial products company's stock worth $971,000 after purchasing an additional 81 shares during the last quarter. TCTC Holdings LLC grew its holdings in shares of Middleby by 116.7% in the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company's stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in Middleby by 2.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,472 shares of the industrial products company's stock worth $470,000 after acquiring an additional 95 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Company Profile

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.