The Middleby Corporation (NASDAQ:MIDD) was upgraded by research analysts at Macquarie from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday, The Fly reports.

MIDD has been the topic of a number of other research reports. BidaskClub downgraded shares of The Middleby Corporation from a “sell” rating to a “strong sell” rating in a report on Friday. Robert W. Baird decreased their price objective on shares of The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating on the stock in a report on Friday. BMO Capital Markets reissued a “buy” rating and set a $150.00 price objective (down previously from $155.00) on shares of The Middleby Corporation in a report on Friday, June 23rd. Zacks Investment Research downgraded shares of The Middleby Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Wellington Shields raised shares of The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $141.71.

Shares of The Middleby Corporation (NASDAQ MIDD) opened at 117.76 on Tuesday. The Middleby Corporation has a 1-year low of $108.45 and a 1-year high of $150.87. The stock’s 50 day moving average is $125.52 and its 200 day moving average is $132.47. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of 22.06 and a beta of 1.82.

The Middleby Corporation (NASDAQ:MIDD) last issued its earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.01. The business had revenue of $579.34 million for the quarter, compared to the consensus estimate of $587.49 million. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.56%. On average, equities analysts forecast that The Middleby Corporation will post $5.67 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC increased its stake in shares of The Middleby Corporation by 14.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 728 shares of the industrial products company’s stock valued at $102,000 after buying an additional 90 shares during the period. Van ECK Associates Corp increased its stake in shares of The Middleby Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 780 shares of the industrial products company’s stock valued at $106,000 after buying an additional 56 shares during the period. Advisory Services Network LLC acquired a new stake in shares of The Middleby Corporation during the first quarter valued at about $125,000. IFP Advisors Inc increased its stake in shares of The Middleby Corporation by 10.5% in the second quarter. IFP Advisors Inc now owns 1,031 shares of the industrial products company’s stock valued at $125,000 after buying an additional 98 shares during the period. Finally, LS Investment Advisors LLC increased its stake in shares of The Middleby Corporation by 4.7% in the second quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock valued at $130,000 after buying an additional 48 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.

The Fly

Analyst Recommendations for The Middleby Corporation (NASDAQ:MIDD)

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