The Middleby Corporation (NASDAQ:MIDD) had its target price dropped by equities research analysts at Robert W. Baird from $145.00 to $142.00 in a research note issued to investors on Friday. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price target would suggest a potential upside of 17.90% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. BMO Capital Markets restated an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of The Middleby Corporation in a report on Wednesday, May 17th. Zacks Investment Research cut The Middleby Corporation from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Wellington Shields upgraded The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. BidaskClub cut The Middleby Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Finally, Seaport Global Securities initiated coverage on The Middleby Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $128.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The Middleby Corporation has a consensus rating of “Hold” and an average price target of $141.71.

The Middleby Corporation (NASDAQ:MIDD) traded up 2.04% on Friday, hitting $122.90. 678,925 shares of the company were exchanged. The stock’s 50-day moving average price is $125.61 and its 200-day moving average price is $132.72. The Middleby Corporation has a 52-week low of $108.45 and a 52-week high of $150.87. The stock has a market capitalization of $7.04 billion, a P/E ratio of 23.02 and a beta of 1.82.

The Middleby Corporation (NASDAQ:MIDD) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.01. The Middleby Corporation had a return on equity of 23.45% and a net margin of 13.16%. The firm had revenue of $579.34 million during the quarter, compared to analysts’ expectations of $587.49 million. On average, equities research analysts anticipate that The Middleby Corporation will post $5.67 earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of The Middleby Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 4,487,263 shares of the industrial products company’s stock valued at $612,288,000 after buying an additional 171,612 shares during the period. BlackRock Inc. raised its position in shares of The Middleby Corporation by 2.7% in the second quarter. BlackRock Inc. now owns 2,701,818 shares of the industrial products company’s stock valued at $328,297,000 after buying an additional 69,896 shares during the period. Fiera Capital Corp raised its position in shares of The Middleby Corporation by 19.3% in the second quarter. Fiera Capital Corp now owns 2,480,553 shares of the industrial products company’s stock valued at $301,412,000 after buying an additional 401,561 shares during the period. William Blair Investment Management LLC raised its position in shares of The Middleby Corporation by 40.4% in the second quarter. William Blair Investment Management LLC now owns 1,809,903 shares of the industrial products company’s stock valued at $219,921,000 after buying an additional 520,906 shares during the period. Finally, CI Global Investments Inc. raised its position in shares of The Middleby Corporation by 11.9% in the second quarter. CI Global Investments Inc. now owns 1,490,255 shares of the industrial products company’s stock valued at $181,081,000 after buying an additional 157,962 shares during the period. 95.63% of the stock is currently owned by institutional investors and hedge funds.

About The Middleby Corporation

The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.

Analyst Recommendations for The Middleby Corporation (NASDAQ:MIDD)

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