KeyBanc analyst Jeffrey Hammond maintained a Buy rating on The Middleby (MIDD – Research Report) today and set a price target of $175.00. The company’s shares closed yesterday at $142.92.
Hammond covers the Industrials sector, focusing on stocks such as Gates Industrial, The Middleby, and Parker Hannifin. According to TipRanks, Hammond has an average return of 11.3% and a 60.76% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for The Middleby with a $169.00 average price target.
Based on The Middleby’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $980.65 million and a net profit of $108.65 million. In comparison, last year the company earned a revenue of $992.87 million and had a net profit of $104.37 million
Based on the recent corporate insider activity of 41 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.
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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.
