Wall Street Zen downgraded shares of Middleby (NASDAQ:MIDD – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.
Several other equities research analysts have also recently weighed in on MIDD. Weiss Ratings reissued a “sell (d+)” rating on shares of Middleby in a research note on Wednesday, July 29th. Barclays set a $155.00 price objective on Middleby and gave the stock an “overweight” rating in a research note on Monday, July 20th. Robert W. Baird cut Middleby from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Oppenheimer began coverage on shares of Middleby in a research report on Wednesday, June 17th. They set an “outperform” rating and a $205.00 target price for the company. Finally, KeyCorp set a $152.00 price target on shares of Middleby in a research report on Tuesday, July 14th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Middleby currently has an average rating of “Moderate Buy” and an average target price of $169.50.
View Our Latest Stock Analysis on Middleby
Middleby Trading Up 0.9%
Middleby (NASDAQ:MIDD – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.22. The company had revenue of $839.91 million for the quarter, compared to analyst estimates of $777.19 million. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. Middleby’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 earnings per share. As a group, equities analysts forecast that Middleby will post 9.54 EPS for the current year.
Institutional Trading of Middleby
Several large investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Middleby during the 2nd quarter worth approximately $27,000. Torren Management LLC bought a new position in Middleby in the fourth quarter worth approximately $25,000. Clearstead Advisors LLC grew its stake in Middleby by 201.8% in the fourth quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 111 shares during the period. Elevation Wealth Partners LLC increased its holdings in shares of Middleby by 553.8% during the second quarter. Elevation Wealth Partners LLC now owns 170 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 144 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Middleby by 1,292.9% during the fourth quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.
About Middleby
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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