Middleby (NASDAQ:MIDD) Stock Price Expected to Rise, Barclays Analyst Says

Middleby (NASDAQ:MIDD) had its price target upped by research analysts at Barclays from $160.00 to $180.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential upside of 10.26% from the stock’s current price.

Several other equities analysts have also recently weighed in on MIDD. Robert W. Baird lifted their price objective on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. KeyCorp boosted their price target on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Jefferies Financial Group reiterated a “hold” rating and set a $160.00 price objective (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Canaccord Genuity Group boosted their target price on shares of Middleby from $155.00 to $192.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of Middleby from $134.00 to $145.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Middleby currently has an average rating of “Hold” and a consensus target price of $180.86.

Middleby Trading Down 1.3 %

MIDD stock opened at $163.25 on Wednesday. Middleby has a 52 week low of $118.41 and a 52 week high of $182.73. The company has a market capitalization of $8.78 billion, a PE ratio of 22.52 and a beta of 1.64. The company’s 50-day simple moving average is $152.97 and its 200 day simple moving average is $143.29. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

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

Institutional Investors Weigh In On Middleby

Hedge funds have recently made changes to their positions in the stock. Lorne Steinberg Wealth Management Inc. boosted its position in Middleby by 0.3% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company’s stock valued at $3,323,000 after buying an additional 70 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of Middleby by 16.0% in the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 78 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Middleby by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company’s stock valued at $224,000 after acquiring an additional 81 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Middleby by 1.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,167 shares of the industrial products company’s stock worth $971,000 after acquiring an additional 81 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in Middleby by 4.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 88 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

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.