Middleby (NASDAQ:MIDD) Lowered to Hold at ValuEngine

ValuEngine lowered shares of Middleby (NASDAQ:MIDD) from a buy rating to a hold rating in a research report released on Thursday morning, ValuEngine reports.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Middleby from a buy rating to a hold rating in a research report on Monday, May 13th. BidaskClub lowered shares of Middleby from a buy rating to a hold rating in a research report on Thursday. Jefferies Financial Group initiated coverage on shares of Middleby in a research report on Wednesday, April 3rd. They set a hold rating and a $135.00 price objective for the company. Finally, CL King raised shares of Middleby from a buy rating to a strong-buy rating and set a $160.00 price objective for the company in a research note on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $147.43.

Shares of NASDAQ:MIDD traded down $2.54 during trading hours on Thursday, hitting $129.13. 267,666 shares of the company’s stock traded hands, compared to its average volume of 332,171. Middleby has a 52 week low of $96.65 and a 52 week high of $142.98. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.95 and a current ratio of 1.98. The company’s fifty day simple moving average is $135.24. The stock has a market cap of $7.48 billion, a P/E ratio of 21.17 and a beta of 1.60.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.01. Middleby had a net margin of 11.35% and a return on equity of 21.91%. The company had revenue of $686.80 million during the quarter, compared to analyst estimates of $683.01 million. During the same quarter last year, the firm posted $1.20 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. Analysts expect that Middleby will post 6.92 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. ETF Managers Group LLC lifted its stake in Middleby by 7.7% during the first quarter. ETF Managers Group LLC now owns 1,156 shares of the industrial products company’s stock valued at $150,000 after buying an additional 83 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Middleby by 22.9% in the first quarter. Parkside Financial Bank & Trust now owns 611 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 114 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Middleby by 0.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,780 shares of the industrial products company’s stock worth $2,277,000 after purchasing an additional 124 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of Middleby by 3.7% in the second quarter. IFM Investors Pty Ltd now owns 3,581 shares of the industrial products company’s stock worth $486,000 after purchasing an additional 127 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Middleby by 3.9% in the second quarter. KBC Group NV now owns 4,175 shares of the industrial products company’s stock worth $567,000 after purchasing an additional 158 shares in the last quarter. 99.57% of the stock is owned by institutional investors.

Middleby Company Profile

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.

Further Reading: Convertible Shares

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Middleby (NASDAQ:MIDD)

Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.