The Middleby (NASDAQ: MIDD) Receives New $ 200.00 Price Target From Barclays
The Middleby (NASDAQ: MIDD) saw its target price raised by Barclays analysts from $ 195.00 to $ 200.00 in a note issued to investors on Wednesday, The Fly reports. The company currently has an “overweight” rating on the stocks of the industrial products company. Barclays’ price target indicates a potential rise of 11.54% from the security’s previous close.
Several other analysts have also recently published reports on MIDD. KeyCorp raised its price target on The Middleby from $ 195.00 to $ 210.00 and assigned the company an “overweight” rating in a research note on Thursday, April 22. Jefferies Financial Group raised its price target on The Middleby from $ 190.00 to $ 220.00 in a research note on Thursday, April 22. CL King took The Middleby from a “neutral” rating to a “buy” rating in a research report on Thursday, April 22. BMO Capital Markets raised its target price on The Middleby from $ 225.00 to $ 250.00 and assigned the company an “outperformance” rating in a research report released on Monday, May 10. Finally, he downgraded The Middleby from a “neutral” rating to a “buy” rating and set a target price of $ 200.00 on the stock in a research report on Monday, June 7. One equity research analyst rated the stock with a conservation rating and nine issued a buy rating for the stock. The company has an average rating of “Buy” and a consensus price target of $ 195.67.
MIDD shares opened at $ 179.30 on Wednesday. The company has a market cap of $ 9.97 billion, a price-to-earnings ratio of 44.60 and a beta of 1.73. The company has a debt ratio of 0.90, a current ratio of 1.95, and a quick ratio of 1.15. The company has a fifty-day moving average price of $ 170.25. The Middleby has a 52 week low of $ 75.38 and a 52 week high of $ 186.20.
The Middleby (NASDAQ: MIDD) last reported its quarterly results on Thursday, May 6. The industrials company reported $ 1.79 in EPS for the quarter, beating the Zacks consensus estimate of $ 1.63 by $ 0.16. The company posted revenue of $ 758.06 million for the quarter, compared to analysts’ estimates of $ 714.50 million. The Middleby had a return on equity of 14.70% and a net margin of 8.59%. The quarterly turnover of the activity is up 11.9% compared to the same quarter last year. During the same period last year, the company earned $ 1.46 per share. On average, stock analysts forecast The Middleby to post earnings per share of 8.06 for the current fiscal year.
Several large investors have recently changed their holdings in the company. Gryphon Financial Partners LLC purchased a new equity stake in The Middleby in the first quarter valued at approximately $ 38,000. Fifth Third Bancorp increased its stake in The Middleby shares by 211.3% in the first quarter. Fifth Third Bancorp now owns 249 shares of the industrials company valued at $ 41,000 after purchasing an additional 169 shares during the period. Harvest Fund Management Co. Ltd. purchased a new equity stake in The Middleby in the first quarter valued at approximately $ 46,000. Captrust Financial Advisors increased its stake in The Middleby shares by 31.2% in the fourth quarter. Captrust Financial Advisors now owns 408 shares of the industrials company valued at $ 53,000 after purchasing 97 additional shares during the period. Finally, Alpha Paradigm Partners LLC purchased a new equity stake in The Middleby in the first quarter valued at approximately $ 76,000. Institutional investors hold 93.27% of the shares of the company.
About The Middleby
Middleby Corporation designs, manufactures, markets, distributes and services a line of catering, 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 Conveyor, Combination, Convection, Bake, Proof, Deck, Quick Cook and Hydrovection ovens; cookers, fryers, rethermalizers; equipment for steaming, food reheating, catering, induction cooking, countertop cooking and kitchen ventilation; warming cabinets, broilers, fanless cooking systems, toasters, hot plates, charcoal grills, professional blenders, stainless steel fabrication, custom carpentry, professional refrigerators, blast chillers, cold rooms, ice machines, freezers; and Soft Ice Cream, Coffee and Beverage Dispensing, Home and Professional Craft Brewing Equipment, French Fries Dispensers, Bottle Filling and Canning Equipment, and IoT Solutions.
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