The Middleby Corporation (NASDAQ:MIDD) Receives Consensus Rating of "Hold" from Analysts

Key Points

• The Middleby Corporation has received a consensus rating of "Hold" from nine analysts, with two recommending a sell, five a buy, and two a hold.
• The average 12-month price target for Middleby stock is $160.71, with analysts' ratings showing varied perspectives on its potential.
1.4% year-over-year, indicating potential challenges ahead.

The Middleby Corporation (NASDAQ:MIDD - Get Free Report) has been given an average rating of "Hold" by the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $160.7143.

MIDD has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Middleby in a research note on Wednesday. Barclays decreased their price objective on shares of Middleby from $180.00 to $165.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Wolfe Research set a $163.00 price objective on shares of Middleby and gave the stock an "outperform" rating in a research note on Thursday, September 4th. Wall Street Zen cut shares of Middleby from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Zacks Research raised shares of Middleby to a "strong sell" rating in a research note on Monday, August 11th.

Hedge Funds Weigh In On Middleby

A number of large investors have recently modified their holdings of the stock. Burgundy Asset Management Ltd. lifted its position in shares of Middleby by 5.0% during the first quarter. Burgundy Asset Management Ltd. now owns 1,604 shares of the industrial products company's stock worth $244,000 after purchasing an additional 77 shares in the last quarter. Signaturefd LLC lifted its position in shares of Middleby by 23.7% during 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 in the last quarter. TCTC Holdings LLC lifted its position in shares of Middleby by 116.7% during 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 in the last quarter. Xponance Inc. lifted its position in shares of Middleby by 1.6% during the first quarter. Xponance Inc. now owns 6,223 shares of the industrial products company's stock worth $946,000 after purchasing an additional 99 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Middleby by 0.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 11,020 shares of the industrial products company's stock worth $1,675,000 after purchasing an additional 100 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Stock Performance

NASDAQ MIDD opened at $132.70 on Friday. The stock has a market cap of $6.73 billion, a P/E ratio of 16.88 and a beta of 1.52. The company's 50-day simple moving average is $134.74 and its 200 day simple moving average is $140.15. Middleby has a twelve month low of $118.09 and a twelve month high of $182.73. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.64.

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

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.

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