In a report released today, Jeffrey Hammond from KeyBanc reiterated a Buy rating on The Middleby (MIDD – Research Report), with a price target of $160.00. The company’s shares closed yesterday at $115.75.
According to TipRanks, Hammond is a 5-star analyst with an average return of 8.6% and a 52.25% success rate. Hammond covers the Industrials sector, focusing on stocks such as Generac Holdings, Trane Technologies, and ITT.
In addition to KeyBanc, The Middleby also received a Buy from Barclays’s Adam Seiden in a report issued on October 18. However, on October 16, J.P. Morgan maintained a Hold rating on The Middleby (NASDAQ: MIDD).
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MIDD market cap is currently $6.2B and has a P/E ratio of 13.86.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MIDD in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
The Middleby (MIDD) Company Description:
The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry. The Food Processing Equipment Group segment includes manufactures preparation, cooking, packaging food handling, and food safety equipment for the food processing industry. The Residential Kitchen Equipment Group segment manufactures, sells, and distributes kitchen equipment such as cookers, stoves, ovens, refrigerators, dishwashers, microwaves, cooktops, wine coolers, ice machines, ventilation, and outdoor equipment for the residential market. The Corporate and Other segment refers to the corporate and other general company assets and operations. The company was founded in 1888 and is headquartered in Elgin, IL.
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