Middleby (NASDAQ:MIDD) Price Target Increased to $169.00 by Analysts at Robert W. Baird

Middleby (NASDAQ:MIDD) had its price target boosted by Robert W. Baird from $155.00 to $169.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

MIDD has been the topic of a number of other reports. KeyCorp decreased their price objective on Middleby from $175.00 to $160.00 and set an overweight rating on the stock in a research report on Monday, July 15th. William Blair upgraded Middleby to a hold rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. downgraded Middleby from a neutral rating to an underweight rating and reduced their price target for the stock from $145.00 to $118.00 in a report on Wednesday, May 22nd. Raymond James began coverage on Middleby in a report on Friday, June 28th. They issued a market perform rating on the stock. Finally, Canaccord Genuity Group reiterated a buy rating and issued a $159.00 price target on shares of Middleby in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $156.63.

Middleby Price Performance

Shares of NASDAQ:MIDD traded down $3.64 during mid-day trading on Friday, reaching $140.72. The stock had a trading volume of 869,912 shares, compared to its average volume of 706,108. Middleby has a 1 year low of $109.59 and a 1 year high of $161.01. The company has a current ratio of 2.50, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average price is $126.79 and its 200 day moving average price is $139.08. The company has a market cap of $7.57 billion, a P/E ratio of 19.60 and a beta of 1.61.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.12. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The business had revenue of $991.55 million for the quarter, compared to the consensus estimate of $994.05 million. During the same period in the prior year, the business posted $2.47 earnings per share. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. Research analysts expect that Middleby will post 9.77 EPS for the current fiscal year.

Insider Buying and Selling at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 235 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $137.18, for a total transaction of $32,237.30. Following the sale, the director now owns 7,211 shares of the company’s stock, valued at approximately $989,204.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John R. Miller III sold 2,000 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $126.32, for a total transaction of $252,640.00. Following the completion of the sale, the director now owns 10,931 shares in the company, valued at approximately $1,380,803.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Chapin Sarah Palisi sold 235 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $137.18, for a total value of $32,237.30. Following the sale, the director now owns 7,211 shares of the company’s stock, valued at approximately $989,204.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,385 shares of company stock valued at $304,134. 1.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Middleby

Several hedge funds and other institutional investors have recently made changes to their positions in MIDD. Raymond James & Associates lifted its holdings in shares of Middleby by 18.2% during the 4th quarter. Raymond James & Associates now owns 5,313 shares of the industrial products company’s stock valued at $782,000 after purchasing an additional 817 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Middleby by 14.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 2,852 shares of the industrial products company’s stock worth $420,000 after acquiring an additional 352 shares during the last quarter. Ballentine Partners LLC purchased a new position in Middleby in the 4th quarter worth $313,000. International Assets Investment Management LLC raised its stake in Middleby by 14,616.7% in the 4th quarter. International Assets Investment Management LLC now owns 15,894 shares of the industrial products company’s stock worth $2,339,000 after acquiring an additional 15,786 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Middleby by 39.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,206 shares of the industrial products company’s stock worth $913,000 after acquiring an additional 1,770 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

About Middleby

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.