The Middleby Corporation (NASDAQ:MIDD) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts rate Middleby “Moderate Buy.” Six of ten analysts recommend buying the stock, three rate it a hold and one recommends selling; the average 12-month price target is $169.50.
• Middleby shares opened at $135.34, down 2.5%, below their 50-day and 200-day moving averages. The stock has traded between $110.82 and $180.13 over the past year.
• The company exceeded quarterly expectations, reporting $2.16 in EPS and $839.91 million in revenue, with revenue up 15% year over year. Institutional investors own approximately 98.55% of the stock.

Shares of The Middleby Corporation (NASDAQ:MIDD - Get Free Report) have been given an average rating of "Moderate Buy" by the ten analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $169.50.

A number of research firms recently weighed in on MIDD. Barclays set a $155.00 target price on Middleby and gave the stock an "overweight" rating in a research report on Monday, July 20th. Jefferies Financial Group decreased their price target on shares of Middleby from $200.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. Robert W. Baird lowered shares of Middleby from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 8th. KeyCorp set a $152.00 price objective on shares of Middleby in a research note on Tuesday, July 14th. Finally, Canaccord Genuity Group set a $165.00 target price on shares of Middleby in a report on Wednesday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Middleby by 90.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company's stock valued at $66,000 after acquiring an additional 205 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Middleby by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 157,149 shares of the industrial products company's stock worth $23,884,000 after purchasing an additional 9,936 shares during the period. Focus Partners Wealth increased its stake in Middleby by 344.7% in the 1st quarter. Focus Partners Wealth now owns 2,228 shares of the industrial products company's stock worth $339,000 after purchasing an additional 1,727 shares during the period. EverSource Wealth Advisors LLC lifted its position in Middleby by 280.2% in the second quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 241 shares during the last quarter. Finally, Cresset Asset Management LLC purchased a new stake in shares of Middleby during the second quarter valued at approximately $202,000. 98.55% of the stock is owned by institutional investors.

Middleby Trading Down 2.5%

NASDAQ MIDD opened at $135.34 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 0.77. The stock's 50-day simple moving average is $151.18 and its two-hundred day simple moving average is $149.26. Middleby has a twelve month low of $110.82 and a twelve month high of $180.13. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of -15.96 and a beta of 1.32.

Middleby (NASDAQ:MIDD - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.22. The firm had revenue of $839.91 million during the quarter, compared to analysts' expectations of $777.19 million. Middleby had a positive return on equity of 15.94% and a negative net margin of 11.46%.The company's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 EPS. Research analysts forecast that Middleby will post 9.54 EPS for the current fiscal year.

Middleby Company Profile

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby's products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company's portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid‐cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.

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