Middleby (NASDAQ:MIDD) Price Target Raised to $145.00

Middleby (NASDAQ:MIDD) had its target price raised by JPMorgan Chase & Co. from $134.00 to $145.00 in a report released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Middleby from a “buy” rating to a “hold” rating in a report on Monday, January 27th. KeyCorp upped their target price on shares of Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Robert W. Baird raised their price target on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 price objective (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Finally, Canaccord Genuity Group lifted their target price on shares of Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $178.83.

Middleby Price Performance

MIDD stock opened at $166.54 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The business has a 50-day simple moving average of $144.41 and a two-hundred day simple moving average of $139.73. The company has a market capitalization of $8.96 billion, a P/E ratio of 22.97 and a beta of 1.64. Middleby has a 52-week low of $118.41 and a 52-week high of $177.90.

Institutional Investors Weigh In On Middleby

A number of hedge funds have recently modified their holdings of the stock. Lorne Steinberg Wealth Management Inc. raised its stake in shares of Middleby by 0.3% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company’s stock valued at $3,323,000 after buying an additional 70 shares during the period. Principal Securities Inc. raised its stake in Middleby by 16.0% in the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 78 shares during the period. CIBC Asset Management Inc lifted its holdings in Middleby by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company’s stock valued at $224,000 after purchasing an additional 81 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in Middleby by 4.0% during the third quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 88 shares during the period. Finally, Townsquare Capital LLC increased its stake in shares of Middleby by 1.4% in the third quarter. Townsquare Capital LLC now owns 6,259 shares of the industrial products company’s stock worth $871,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

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.