TheStreet upgraded shares of Middleby (NASDAQ:MIDD) from a c+ rating to a b- rating in a research note issued to investors on Wednesday.

Several other analysts have also weighed in on MIDD. ValuEngine raised Middleby from a sell rating to a hold rating in a research note on Tuesday, September 4th. Zacks Investment Research raised Middleby from a strong sell rating to a hold rating in a research note on Tuesday, July 10th. BidaskClub raised Middleby from a hold rating to a buy rating in a research note on Tuesday, June 19th. Robert W. Baird lowered Middleby from an outperform rating to a neutral rating and set a $142.00 price objective on the stock. in a research note on Thursday, May 10th. Finally, Citigroup raised their price objective on Middleby from $116.00 to $117.00 and gave the company a neutral rating in a research note on Wednesday, August 15th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $126.57.

MIDD opened at $126.09 on Wednesday. The firm has a market cap of $6.99 billion, a PE ratio of 20.47 and a beta of 1.88. The company has a current ratio of 1.94, a quick ratio of 1.06 and a debt-to-equity ratio of 1.37. Middleby has a 52-week low of $98.06 and a 52-week high of $138.89.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Wednesday, August 8th. The industrial products company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.04). The business had revenue of $668.13 million during the quarter, compared to analyst estimates of $645.88 million. Middleby had a net margin of 12.07% and a return on equity of 22.52%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $1.35 earnings per share. equities analysts forecast that Middleby will post 6.08 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. raised its position in Middleby by 152.2% in the second quarter. EdgePoint Investment Group Inc. now owns 5,005,532 shares of the industrial products company’s stock valued at $522,678,000 after purchasing an additional 3,020,865 shares during the last quarter. Janus Henderson Group PLC raised its position in Middleby by 29.1% in the second quarter. Janus Henderson Group PLC now owns 2,683,129 shares of the industrial products company’s stock valued at $280,172,000 after purchasing an additional 604,451 shares during the last quarter. Waddell & Reed Financial Inc. raised its position in Middleby by 98.8% in the second quarter. Waddell & Reed Financial Inc. now owns 799,138 shares of the industrial products company’s stock valued at $83,446,000 after purchasing an additional 397,157 shares during the last quarter. Handelsbanken Fonder AB raised its position in Middleby by 41.0% in the first quarter. Handelsbanken Fonder AB now owns 516,000 shares of the industrial products company’s stock valued at $63,876,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Middleby in the second quarter valued at about $10,595,000.

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

See Also: Return on Equity (ROE)

Analyst Recommendations for Middleby (NASDAQ:MIDD)

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