Middleby (NASDAQ:MIDD) Receives “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Middleby (NASDAQ:MIDD) in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a $155.00 price target on the industrial products company’s stock.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group restated a “buy” rating and set a $164.00 target price on shares of Middleby in a research report on Saturday, September 14th. Jefferies Financial Group restated a “hold” rating and set a $160.00 price objective (down previously from $170.00) on shares of Middleby in a report on Thursday, December 12th. Finally, StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $154.67.

Middleby Trading Up 1.5 %

MIDD opened at $134.72 on Friday. The firm has a 50 day simple moving average of $138.85 and a 200 day simple moving average of $134.64. Middleby has a fifty-two week low of $118.41 and a fifty-two week high of $161.01. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 18.58 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. During the same period last year, the company earned $2.35 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Middleby will post 9.12 earnings per share for the current year.

Institutional Investors Weigh In On Middleby

A number of hedge funds and other institutional investors have recently made changes to their positions in MIDD. Quarry LP boosted its stake in Middleby by 133.3% in the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 132 shares during the period. Covestor Ltd lifted its holdings in shares of Middleby by 306.5% in the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 190 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Middleby by 93.2% during the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock worth $39,000 after buying an additional 136 shares during the period. Avior Wealth Management LLC grew its holdings in shares of Middleby by 820.0% during the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after buying an additional 287 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Middleby by 91.8% in the 3rd quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 234 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.