The Middleby Corp Receives a Buy from BMO Capital

By Carrie Williams

BMO Capital analyst Joel Tiss reiterated a Buy rating on The Middleby Corp (NASDAQ: MIDD) yesterday and set a price target of $160. The company’s shares closed yesterday at $121.50.

According to TipRanks.com, Tiss is a 4-star analyst with an average return of 12.9% and a 64.8% success rate. Tiss covers the Industrial Goods sector, focusing on stocks such as Carlisle Companies Inc, John Bean Technologies, and Wabash National Corp.

Currently, the analyst consensus on The Middleby Corp is Moderate Buy and the average price target is $147, representing a 21.0% upside.

In a report issued on March 1, Susquehanna also reiterated a Buy rating on the stock with a $149 price target.

Based on The Middleby Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $633 million and quarterly net profit of $75.19 million. In comparison, last year the company earned revenue of $597 million and had a net profit of $80.94 million.

Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock.

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Middleby Corp. engages in the design and manufacture of equipment used in the food service industries. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, and Residential Kitchen Equipment Group. The Commercial Foodservice Equipment Group segment offers foodservice equipment, which are used for any cooking or warming application within a commercial kitchen or foodservice operation. The Food Processing Equipment Group segment includes portfolio of processing solutions for customers producing pre-cooked meat products and bread. The Residential Kitchen Equipment Group segment comprises of equipment for the residential market, such as ranges, cookers, stoves, ovens, refrigerators, dishwashers, microwaves, cooktops, refrigerators, wine coolers, ice machines, dishwashers, ventilation equipment, and outdoor equipment. The company was founded in 1888 and is headquartered in Elgin, IL.