BidaskClub upgraded shares of Middleby (NASDAQ:MIDD) from a sell rating to a hold rating in a report released on Friday morning.

MIDD has been the subject of several other reports. Deutsche Bank reduced their price objective on Middleby from $120.00 to $110.00 and set a hold rating for the company in a research report on Friday, November 17th. BMO Capital Markets reiterated a buy rating and set a $150.00 price objective on shares of Middleby in a research report on Wednesday, November 8th. Zacks Investment Research upgraded Middleby from a sell rating to a hold rating in a research report on Tuesday, October 17th. Citigroup reiterated a neutral rating and set a $130.00 price objective on shares of Middleby in a research report on Thursday, September 7th. Finally, Susquehanna Bancshares assumed coverage on Middleby in a research report on Wednesday, September 27th. They set a positive rating and a $141.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $137.22.

Middleby (NASDAQ MIDD) opened at $130.79 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.02 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $7,312.86, a P/E ratio of 24.13 and a beta of 1.89. Middleby has a 52-week low of $107.53 and a 52-week high of $150.87.

Middleby announced that its board has authorized a share repurchase program on Tuesday, November 14th that permits the company to repurchase 2,500,000 shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc lifted its position in shares of Middleby by 10.5% during the 2nd quarter. IFP Advisors Inc now owns 1,031 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 98 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Middleby by 9.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,124 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 95 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in shares of Middleby during the 2nd quarter valued at $143,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Middleby during the 2nd quarter valued at $154,000. Finally, Zions Bancorporation acquired a new stake in shares of Middleby during the 3rd quarter valued at $198,000. Hedge funds and other institutional investors own 99.95% of the company’s stock.

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Middleby Company Profile

The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.

Analyst Recommendations for Middleby (NASDAQ:MIDD)

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