The Middleby (NASDAQ:MIDD) had its price target boosted by KeyCorp from $195.00 to $210.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the industrial products company's stock. KeyCorp's price target would indicate a potential upside of 14.70% from the company's previous close. KeyCorp also issued estimates for The Middleby's Q3 2021 earnings at $1.92 EPS and FY2021 earnings at $7.45 EPS.
Several other analysts have also commented on MIDD. BMO Capital Markets increased their price target on shares of The Middleby from $150.00 to $225.00 in a research report on Tuesday, March 9th. JPMorgan Chase & Co. increased their price objective on shares of The Middleby from $155.00 to $169.00 and gave the company a "neutral" rating in a research report on Thursday, April 22nd. CL King raised shares of The Middleby from a "neutral" rating to a "buy" rating in a research report on Thursday, April 22nd. Jefferies Financial Group increased their price objective on shares of The Middleby from $190.00 to $220.00 in a research report on Thursday, April 22nd. Finally, Robert W. Baird increased their price target on shares of The Middleby from $192.00 to $195.00 and gave the stock an "outperform" rating in a report on Friday, April 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of "Buy" and an average target price of $175.56.
Shares of The Middleby stock opened at $183.08 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.08 and a quick ratio of 1.15. The Middleby has a 1 year low of $49.11 and a 1 year high of $185.54. The firm's 50-day moving average is $167.55 and its two-hundred day moving average is $139.62. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 38.30 and a beta of 1.77.
The Middleby (NASDAQ:MIDD) last issued its earnings results on Sunday, February 28th. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.42 by $0.20. The Middleby had a net margin of 10.28% and a return on equity of 15.18%. The company had revenue of $729.30 million for the quarter, compared to analysts' expectations of $694.90 million. During the same period in the prior year, the business earned $2.00 EPS. The firm's quarterly revenue was down 7.4% on a year-over-year basis. On average, equities analysts expect that The Middleby will post 4.69 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. Corbenic Partners LLC acquired a new position in shares of The Middleby during the fourth quarter worth about $26,000. Twin Tree Management LP purchased a new stake in The Middleby during the fourth quarter worth approximately $30,000. Captrust Financial Advisors lifted its stake in The Middleby by 31.2% during the fourth quarter. Captrust Financial Advisors now owns 408 shares of the industrial products company's stock worth $53,000 after purchasing an additional 97 shares during the last quarter. Heritage Wealth Advisors purchased a new stake in The Middleby during the fourth quarter worth approximately $112,000. Finally, TRUE Private Wealth Advisors lifted its stake in The Middleby by 11.8% during the fourth quarter. TRUE Private Wealth Advisors now owns 1,350 shares of the industrial products company's stock worth $174,000 after purchasing an additional 142 shares during the last quarter.
The Middleby Company Profile
The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry.
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