Middleby (NASDAQ:MIDD) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Middleby (NASDAQ:MIDD) from a sell rating to a hold rating in a research report released on Tuesday, ValuEngine reports.

A number of other research firms also recently commented on MIDD. TheStreet downgraded Middleby from a b- rating to a c rating in a report on Thursday, August 29th. Buckingham Research set a $153.00 target price on Middleby and gave the stock a buy rating in a report on Wednesday, August 7th. BidaskClub upgraded Middleby from a sell rating to a hold rating in a research report on Thursday, November 28th. Citigroup lowered their price target on Middleby from $138.00 to $125.00 and set a neutral rating for the company in a research note on Wednesday, August 14th. Finally, Zacks Investment Research raised shares of Middleby from a sell rating to a hold rating and set a $126.00 price target on the stock in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Middleby currently has a consensus rating of Buy and a consensus target price of $141.57.

MIDD traded up $0.84 during trading on Tuesday, reaching $112.92. 1,287 shares of the company’s stock were exchanged, compared to its average volume of 287,495. The company’s fifty day moving average price is $117.70 and its 200-day moving average price is $123.30. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.00 and a current ratio of 2.05. Middleby has a fifty-two week low of $96.65 and a fifty-two week high of $142.98. The firm has a market capitalization of $6.34 billion, a PE ratio of 18.60 and a beta of 1.59.

Middleby (NASDAQ:MIDD) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.63 by $0.09. The company had revenue of $724.00 million during the quarter, compared to analysts’ expectations of $760.88 million. Middleby had a net margin of 11.55% and a return on equity of 20.81%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS. Research analysts forecast that Middleby will post 6.74 earnings per share for the current fiscal year.

In other Middleby news, Director Robert A. Nerbonne bought 420 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $120.24 per share, with a total value of $50,500.80. Following the completion of the transaction, the director now owns 1,282 shares in the company, valued at $154,147.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC bought a new stake in Middleby during the second quarter worth $40,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Middleby during the 2nd quarter worth about $66,000. Tower Research Capital LLC TRC increased its stake in shares of Middleby by 5,606.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 856 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 841 shares during the last quarter. CNB Bank increased its stake in shares of Middleby by 266.4% during the 3rd quarter. CNB Bank now owns 894 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 650 shares during the last quarter. Finally, Quest Capital Management Inc. ADV bought a new stake in shares of Middleby in the 3rd quarter valued at about $114,000. Institutional investors own 93.32% of the company’s stock.

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 foodservice 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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