Middleby Corp (MIDD) Receives Average Recommendation of “Buy” from Brokerages

Middleby Corp (NASDAQ:MIDD) has received a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $140.00.

A number of brokerages have commented on MIDD. BidaskClub raised shares of Middleby from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 27th. Buckingham Research raised shares of Middleby from a “neutral” rating to a “buy” rating and increased their target price for the company from $115.00 to $174.00 in a research report on Monday, September 24th. TheStreet raised shares of Middleby from a “c+” rating to a “b-” rating in a research report on Wednesday, September 5th. ValuEngine raised shares of Middleby from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Zacks Investment Research raised shares of Middleby from a “hold” rating to a “buy” rating and set a $139.00 target price on the stock in a research report on Tuesday, October 9th.

Shares of NASDAQ:MIDD traded down $1.50 during trading hours on Monday, reaching $119.29. The stock had a trading volume of 499,124 shares, compared to its average volume of 586,094. Middleby has a 1 year low of $98.06 and a 1 year high of $138.89. The company has a current ratio of 1.88, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The company has a market cap of $6.75 billion, a PE ratio of 19.37 and a beta of 1.88.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $1.56 EPS for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($0.01). Middleby had a net margin of 11.45% and a return on equity of 22.14%. The firm had revenue of $713.30 million during the quarter, compared to analysts’ expectations of $731.46 million. During the same period in the prior year, the company posted $1.36 earnings per share. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. As a group, equities research analysts expect that Middleby will post 5.99 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Carnegie Capital Asset Management LLC purchased a new position in shares of Middleby in the 3rd quarter valued at $272,000. Vanguard Group Inc. grew its position in shares of Middleby by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,755,844 shares of the industrial products company’s stock valued at $615,168,000 after buying an additional 47,899 shares during the last quarter. Legal & General Group Plc grew its position in shares of Middleby by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 81,052 shares of the industrial products company’s stock valued at $10,484,000 after buying an additional 1,600 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Middleby by 2.5% in the 3rd quarter. Nordea Investment Management AB now owns 236,260 shares of the industrial products company’s stock valued at $30,561,000 after buying an additional 5,746 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in shares of Middleby by 1.2% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 146,795 shares of the industrial products company’s stock valued at $18,988,000 after buying an additional 1,765 shares during the last quarter.

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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