The Middleby Corporation (NASDAQ:MIDD) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of The Middleby Corporation (NASDAQ:MIDD) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $163.8333.

A number of analysts have recently weighed in on MIDD shares. Zacks Research cut Middleby from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Wall Street Zen raised Middleby from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. KeyCorp restated an “overweight” rating on shares of Middleby in a research note on Friday, December 5th. Canaccord Genuity Group lifted their target price on shares of Middleby from $171.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Middleby from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th.

Middleby Price Performance

Shares of MIDD stock opened at $163.89 on Thursday. The stock’s 50-day moving average is $149.42 and its 200 day moving average is $137.23. Middleby has a 1-year low of $110.82 and a 1-year high of $182.73. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.07 and a quick ratio of 1.10. The company has a market cap of $8.26 billion, a P/E ratio of -37.25 and a beta of 1.40.

Insider Buying and Selling at Middleby

In related news, Director Robert A. Nerbonne acquired 780 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were purchased at an average cost of $128.52 per share, with a total value of $100,245.60. Following the completion of the acquisition, the director directly owned 21,471 shares of the company’s stock, valued at $2,759,452.92. This represents a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MIDD. Torren Management LLC acquired a new stake in Middleby during the 4th quarter valued at approximately $25,000. Clearstead Advisors LLC lifted its position in Middleby by 201.8% during the fourth quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 111 shares during the period. Larson Financial Group LLC boosted its holdings in Middleby by 1,292.9% in the fourth quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 181 shares during the last quarter. Danske Bank A S acquired a new stake in Middleby during the 3rd quarter worth about $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Middleby during the 2nd quarter valued at about $30,000. 98.55% of the stock is owned by institutional investors and hedge funds.

About Middleby

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid‐cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.