Middleby (NASDAQ:MIDD) Rating Lowered to Hold at ValuEngine

ValuEngine lowered shares of Middleby (NASDAQ:MIDD) from a buy rating to a hold rating in a research note published on Saturday morning, ValuEngine reports.

A number of other equities research analysts have also weighed in on MIDD. Zacks Investment Research raised shares of Middleby from a hold rating to a buy rating and set a $154.00 target price on the stock in a research note on Tuesday, May 7th. BidaskClub lowered shares of Middleby from a strong-buy rating to a buy rating in a research note on Friday, March 22nd. Jefferies Financial Group assumed coverage on shares of Middleby in a research note on Wednesday, April 3rd. They set a hold rating and a $135.00 target price on the stock. CL King raised shares of Middleby from a buy rating to a strong-buy rating and set a $160.00 target price on the stock in a research note on Wednesday, April 3rd. Finally, BMO Capital Markets lifted their target price on shares of Middleby to $150.00 and gave the company a positive rating in a research note on Friday, March 8th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $147.43.

MIDD stock opened at $133.08 on Friday. The company has a 50-day moving average price of $134.42. Middleby has a 12-month low of $96.65 and a 12-month high of $140.15. The stock has a market capitalization of $7.41 billion, a PE ratio of 21.82 and a beta of 1.69. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.98 and a quick ratio of 0.95.

Middleby (NASDAQ:MIDD) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.01. The firm had revenue of $686.80 million for the quarter, compared to analyst estimates of $683.01 million. Middleby had a net margin of 11.35% and a return on equity of 21.91%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 EPS. On average, research analysts expect that Middleby will post 6.92 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Icon Wealth Partners LLC bought a new stake in Middleby during the first quarter worth about $33,000. Quadrant Capital Group LLC boosted its stake in Middleby by 1,724.0% during the first quarter. Quadrant Capital Group LLC now owns 456 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 431 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Middleby by 22.9% during the first quarter. Parkside Financial Bank & Trust now owns 611 shares of the industrial products company’s stock worth $79,000 after acquiring an additional 114 shares in the last quarter. Ellis Investment Partners LLC bought a new stake in Middleby during the first quarter worth about $82,000. Finally, Crewe Advisors LLC boosted its stake in Middleby by 2,985.7% during the first quarter. Crewe Advisors LLC now owns 648 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 627 shares in the last quarter. 99.74% of the stock is currently owned by institutional investors and hedge funds.

Middleby Company Profile

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 foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

See Also: Cost of Equity

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Analyst Recommendations for Middleby (NASDAQ:MIDD)

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