Middleby (NASDAQ:MIDD) Price Target Raised to $150.00 at JPMorgan Chase & Co.

Middleby (NASDAQ:MIDD) had its price target boosted by JPMorgan Chase & Co. from $145.00 to $150.00 in a report issued on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the industrial products company’s stock.

Several other analysts also recently issued reports on MIDD. Robert W. Baird raised their price objective on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Barclays raised 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. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. KeyCorp raised their price objective on shares of Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Finally, Canaccord Genuity Group raised their price objective on shares of Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Middleby presently has a consensus rating of “Hold” and a consensus price target of $180.86.

Middleby Trading Down 2.3 %

MIDD opened at $165.36 on Wednesday. The firm has a market cap of $8.90 billion, a P/E ratio of 22.81 and a beta of 1.64. Middleby has a 12 month low of $118.41 and a 12 month high of $182.73. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average of $152.36 and a 200 day moving average of $143.15.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.50 by $0.38. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $996.69 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the business posted $2.65 earnings per share. As a group, research analysts forecast that Middleby will post 9.11 EPS for the current year.

Institutional Trading of Middleby

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Middleby by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,260,935 shares of the industrial products company’s stock valued at $712,594,000 after acquiring an additional 21,771 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Middleby by 1.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,895,553 shares of the industrial products company’s stock worth $256,753,000 after buying an additional 35,449 shares during the period. Turtle Creek Asset Management Inc. lifted its holdings in Middleby by 2.9% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 1,866,359 shares of the industrial products company’s stock worth $252,798,000 after buying an additional 53,276 shares during the period. Earnest Partners LLC lifted its holdings in Middleby by 3.8% during the fourth quarter. Earnest Partners LLC now owns 1,311,966 shares of the industrial products company’s stock worth $177,706,000 after buying an additional 47,443 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Middleby by 4,494.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company’s stock worth $171,524,000 after buying an additional 1,238,767 shares during the period. Institutional investors own 98.55% of the company’s stock.

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.