BidaskClub Downgrades Middleby (MIDD) to Hold

Middleby (NASDAQ:MIDD) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other research firms have also commented on MIDD. Zacks Investment Research lowered shares of Middleby from a “buy” rating to a “hold” rating in a research report on Wednesday, January 24th. Citigroup increased their price objective on shares of Middleby from $120.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. ValuEngine lowered shares of Middleby from a “hold” rating to a “sell” rating in a research report on Friday, May 4th. BMO Capital Markets restated a “buy” rating and issued a $160.00 target price (up previously from $145.00) on shares of Middleby in a report on Wednesday, March 7th. They noted that the move was a valuation call. Finally, Wellington Shields lowered shares of Middleby from an “accumulate” rating to a “hold” rating in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $134.50.

Middleby opened at $104.97 on Thursday, Marketbeat Ratings reports. Middleby has a 52 week low of $104.53 and a 52 week high of $105.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.11 and a quick ratio of 1.07. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 17.04 and a beta of 1.81.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $1.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.48. Middleby had a net margin of 12.25% and a return on equity of 22.03%. The business had revenue of $632.86 million during the quarter, compared to analyst estimates of $646.83 million. research analysts anticipate that Middleby will post 6.06 EPS for the current fiscal year.

In other news, Director Nassem Ziyad bought 2,000 shares of the stock in a transaction dated Thursday, March 8th. The stock was purchased at an average price of $118.50 per share, for a total transaction of $237,000.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $237,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in MIDD. Bank of New York Mellon Corp increased its stake in Middleby by 258.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,161,870 shares of the industrial products company’s stock worth $156,794,000 after buying an additional 837,820 shares during the period. CI Global Investments Inc. increased its stake in Middleby by 21.4% in the 4th quarter. CI Global Investments Inc. now owns 2,575,842 shares of the industrial products company’s stock worth $347,610,000 after buying an additional 453,817 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Middleby in the 4th quarter worth about $53,537,000. TimesSquare Capital Management LLC purchased a new position in Middleby in the 4th quarter worth about $49,223,000. Finally, Empire Life Investments Inc. purchased a new position in Middleby in the 4th quarter worth about $31,903,000.

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

Analyst Recommendations for Middleby (NASDAQ:MIDD)

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