Middleby (NASDAQ:MIDD) Hits New 52-Week High at $158.20

The Middleby Co. (NASDAQ:MIDD)’s share price reached a new 52-week high on Wednesday . The company traded as high as $158.20 and last traded at $157.82, with a volume of 27795 shares trading hands. The stock had previously closed at $155.75.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TheStreet upgraded shares of Middleby from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Canaccord Genuity Group raised their target price on Middleby from $164.00 to $166.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Jefferies Financial Group boosted their target price on Middleby from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.38.

Middleby Price Performance

The business’s 50 day moving average is $149.16 and its two-hundred day moving average is $136.74. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 2.31. The firm has a market capitalization of $8.62 billion, a PE ratio of 21.70 and a beta of 1.56.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.21. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Middleby had a return on equity of 16.99% and a net margin of 9.93%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.57 earnings per share. Equities research analysts anticipate that The Middleby Co. will post 10.31 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Cathy L. Mccarthy sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total value of $153,120.00. Following the completion of the transaction, the director now directly owns 7,971 shares in the company, valued at $1,220,519.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Chapin Sarah Palisi sold 350 shares of Middleby stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $151.47, for a total transaction of $53,014.50. Following the completion of the sale, the director now owns 6,306 shares of the company’s stock, valued at $955,169.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Cathy L. Mccarthy sold 1,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total value of $153,120.00. Following the completion of the transaction, the director now owns 7,971 shares in the company, valued at $1,220,519.52. The disclosure for this sale can be found here. Company insiders own 1.16% of the company’s stock.

Institutional Trading of Middleby

A number of large investors have recently modified their holdings of MIDD. Vanguard Group Inc. raised its stake in Middleby by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 5,097,488 shares of the industrial products company’s stock valued at $750,197,000 after purchasing an additional 22,978 shares in the last quarter. Select Equity Group L.P. increased its holdings in shares of Middleby by 5.4% in the 1st quarter. Select Equity Group L.P. now owns 4,782,965 shares of the industrial products company’s stock worth $701,230,000 after buying an additional 246,174 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Middleby by 23.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,171,437 shares of the industrial products company’s stock valued at $290,756,000 after buying an additional 407,150 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Middleby by 5.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,826,029 shares of the industrial products company’s stock worth $299,359,000 after acquiring an additional 94,230 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Middleby by 13.3% in the fourth quarter. Nordea Investment Management AB now owns 1,696,476 shares of the industrial products company’s stock worth $251,621,000 after acquiring an additional 198,859 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

About Middleby

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.