Middleby Corp (MIDD) Given Average Recommendation of “Hold” by Brokerages

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Middleby Corp (NASDAQ:MIDD) has earned a consensus rating of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $135.57.

A number of research firms recently issued reports on MIDD. Zacks Investment Research upgraded Middleby from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 10th. BidaskClub upgraded Middleby from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 27th. ValuEngine upgraded Middleby from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 8th. Citigroup lifted their target price on Middleby from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, August 15th. Finally, TheStreet upgraded Middleby from a “c+” rating to a “b-” rating in a report on Wednesday, September 5th.

A number of institutional investors have recently bought and sold shares of the business. Leith Wheeler Investment Counsel Ltd. raised its stake in Middleby by 3.0% in the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 17,510 shares of the industrial products company’s stock valued at $2,265,000 after buying an additional 510 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in Middleby by 0.5% in the second quarter. Stephens Investment Management Group LLC now owns 105,816 shares of the industrial products company’s stock valued at $10,989,000 after buying an additional 562 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Middleby by 7.6% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,500 shares of the industrial products company’s stock valued at $888,000 after buying an additional 600 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Middleby by 24.3% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 3,065 shares of the industrial products company’s stock valued at $396,000 after buying an additional 600 shares in the last quarter. Finally, Creative Planning raised its stake in Middleby by 17.3% in the third quarter. Creative Planning now owns 4,260 shares of the industrial products company’s stock valued at $551,000 after buying an additional 629 shares in the last quarter.

Shares of MIDD traded up $1.21 during midday trading on Thursday, hitting $113.66. 8,061 shares of the stock were exchanged, compared to its average volume of 372,143. Middleby has a 52-week low of $98.06 and a 52-week high of $138.89. The firm has a market cap of $6.46 billion, a P/E ratio of 18.43 and a beta of 1.83. The company has a quick ratio of 1.06, a current ratio of 1.94 and a debt-to-equity ratio of 1.37.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.04). Middleby had a return on equity of 22.52% and a net margin of 12.07%. The firm had revenue of $668.13 million for the quarter, compared to analysts’ expectations of $645.88 million. During the same quarter in the prior year, the business earned $1.35 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. Sell-side analysts expect that Middleby will post 6.11 earnings per share for the current year.

About Middleby

The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers cooking and warming equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

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Analyst Recommendations for Middleby (NASDAQ:MIDD)

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