The Middleby Corporation (NASDAQ:MIDD) Given Average Recommendation of "Hold" by Analysts

Key Points

• The Middleby Corporation has received a consensus recommendation of "Hold" from eight brokerages, with two analysts rating it as a sell, one as hold, and five as buy.
• The stock's average 1-year price target from analysts is $160.71, while recent trading shows shares have fallen 3.0% to about $134.59.
• Middleby reported earnings of $2.35 per share, exceeding expectations, but revenue decreased by 1.4% year-over-year.

Shares of The Middleby Corporation (NASDAQ:MIDD - Get Free Report) have earned a consensus recommendation of "Hold" from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $160.7143.

MIDD has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Middleby from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Barclays decreased their target price on shares of Middleby from $180.00 to $165.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Wolfe Research set a $163.00 target price on shares of Middleby and gave the stock an "outperform" rating in a research report on Thursday, September 4th. Canaccord Genuity Group raised their target price on shares of Middleby from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Finally, Zacks Research upgraded shares of Middleby to a "strong sell" rating in a research report on Monday, August 11th.

Middleby Trading Down 3.0%

Shares of MIDD opened at $134.59 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.56. The firm has a 50 day simple moving average of $139.42 and a 200-day simple moving average of $142.77. Middleby has a 1-year low of $118.09 and a 1-year high of $182.73. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 17.12 and a beta of 1.54.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.15. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The business had revenue of $977.86 million during the quarter, compared to analysts' expectations of $979.59 million. During the same period last year, the company posted $2.39 EPS. The company's revenue was down 1.4% on a year-over-year basis. Equities analysts forecast that Middleby will post 9.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Middleby

Hedge funds have recently made changes to their positions in the stock. TCTC Holdings LLC boosted its holdings in shares of Middleby by 116.7% in the 1st quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 91 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Middleby in the 2nd quarter valued at $30,000. Allworth Financial LP boosted its holdings in shares of Middleby by 168.8% in the 2nd quarter. Allworth Financial LP now owns 207 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 130 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Middleby in the 2nd quarter valued at $37,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Middleby by 760.0% during the 1st quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 228 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company's stock.

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.

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