The Middleby Co. (NASDAQ:MIDD) Receives Average Rating of "Moderate Buy" from Analysts

The Middleby Co. (NASDAQ:MIDD - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eight analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $168.14.

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Middleby from a "buy" rating to a "hold" rating in a research report on Thursday, April 10th. JPMorgan Chase & Co. raised their price target on shares of Middleby from $145.00 to $150.00 and gave the company an "underweight" rating in a report on Wednesday, February 26th. Canaccord Genuity Group reduced their price target on shares of Middleby from $200.00 to $186.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. KeyCorp dropped their price target on shares of Middleby from $185.00 to $175.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays lifted their price objective on shares of Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th.

Middleby Stock Performance

MIDD traded up $1.06 during midday trading on Tuesday, hitting $149.78. 928,395 shares of the company were exchanged, compared to its average volume of 712,450. The company's 50 day simple moving average is $141.33 and its 200 day simple moving average is $145.59. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 20.66 and a beta of 1.65. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. Middleby has a 1-year low of $118.41 and a 1-year high of $182.73.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.14. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm had revenue of $906.63 million during the quarter, compared to the consensus estimate of $941.46 million. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The company's revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Middleby will post 9.11 earnings per share for the current year.

Insider Transactions at Middleby

In related news, Director Edward P. Garden acquired 249,339 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was purchased at an average price of $149.59 per share, with a total value of $37,298,621.01. Following the completion of the purchase, the director now owns 3,088,263 shares in the company, valued at $461,973,262.17. This trade represents a 8.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Chapin Sarah Palisi sold 500 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value of $81,755.00. Following the completion of the sale, the director now directly owns 6,111 shares of the company's stock, valued at $999,209.61. The trade was a 7.56% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.18% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in shares of Middleby by 121.4% during the 4th quarter. Blue Trust Inc. now owns 4,423 shares of the industrial products company's stock valued at $615,000 after purchasing an additional 2,425 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Middleby during the 4th quarter valued at about $469,000. GHP Investment Advisors Inc. raised its position in Middleby by 13.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 22,929 shares of the industrial products company's stock worth $3,106,000 after buying an additional 2,763 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of Middleby during the 4th quarter valued at about $219,000. Finally, Olstein Capital Management L.P. lifted its holdings in Middleby by 3.6% in the fourth quarter. Olstein Capital Management L.P. now owns 71,000 shares of the industrial products company's stock valued at $9,617,000 after acquiring an additional 2,500 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.

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.