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Middleby (NASDAQ:MIDD - Get Rating) issued its quarterly earnings results on Thursday. The industrial products company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.07, Briefing.com reports. Middleby had a net margin of 12.94% and a return on equity of 19.11%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $995.84 million. During the same quarter in the prior year, the company earned $2.11 EPS. Middleby's quarterly revenue was up 25.3% on a year-over-year basis. Middleby Price Performance

Shares of NASDAQ:MIDD traded up $0.37 during midday trading on Friday, reaching $146.73. 375,855 shares of the company's stock traded hands, compared to its average volume of 479,904. Middleby has a 1 year low of $120.30 and a 1 year high of $201.34. The company has a market cap of $7.98 billion, a P/E ratio of 17.30 and a beta of 1.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.98 and a current ratio of 1.98. The company has a fifty day simple moving average of $135.27 and a two-hundred day simple moving average of $154.98. Insider Activity

In other Middleby news, CEO Timothy John Fitzgerald bought 7,500 shares of the firm's stock in a transaction dated Thursday, May 12th. The shares were purchased at an average price of $132.29 per share, for a total transaction of $992,175.00. Following the transaction, the chief executive officer now directly owns 20,000 shares of the company's stock, valued at approximately $2,645,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Timothy John Fitzgerald acquired 7,500 shares of the firm's stock in a transaction on Thursday, May 12th. The shares were bought at an average price of $132.29 per share, for a total transaction of $992,175.00. Following the acquisition, the chief executive officer now owns 20,000 shares of the company's stock, valued at approximately $2,645,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert A. Nerbonne acquired 1,450 shares of the firm's stock in a transaction on Friday, May 13th. The stock was purchased at an average price of $139.57 per share, for a total transaction of $202,376.50. Following the acquisition, the director now directly owns 17,276 shares in the company, valued at approximately $2,411,211.32. The disclosure for this purchase can be found here. Insiders have acquired 10,985 shares of company stock worth $1,470,966 in the last quarter. Corporate insiders own 1.24% of the company's stock. Institutional Trading of Middleby

A number of hedge funds and other institutional investors have recently modified their holdings of MIDD. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Middleby in the 1st quarter worth $821,000. Great West Life Assurance Co. Can increased its stake in shares of Middleby by 8.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 30,611 shares of the industrial products company's stock worth $5,161,000 after acquiring an additional 2,362 shares during the last quarter. Sei Investments Co. increased its stake in shares of Middleby by 1.0% in the 1st quarter. Sei Investments Co. now owns 57,728 shares of the industrial products company's stock worth $9,442,000 after acquiring an additional 588 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of Middleby by 136.2% in the 1st quarter. Baird Financial Group Inc. now owns 4,706 shares of the industrial products company's stock worth $771,000 after acquiring an additional 2,714 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Middleby during the 1st quarter worth about $21,366,000. 99.88% of the stock is owned by institutional investors and hedge funds. Analysts Set New Price Targets

MIDD has been the topic of several research reports. KeyCorp cut their price target on shares of Middleby from $182.00 to $175.00 and set an "overweight" rating on the stock in a report on Friday, July 22nd. Robert W. Baird cut their price target on shares of Middleby from $211.00 to $201.00 in a report on Wednesday, May 11th. TheStreet downgraded shares of Middleby from a "b-" rating to a "c+" rating in a report on Wednesday, May 11th. JPMorgan Chase & Co. cut their price target on shares of Middleby from $160.00 to $135.00 and set a "neutral" rating on the stock in a report on Tuesday, July 12th. Finally, Citigroup lowered their price objective on Middleby from $180.00 to $160.00 in a research report on Thursday, July 7th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $177.60.Middleby Company Profile (Get Rating)

The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, 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; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.Further ReadingGet a free copy of the StockNews.com research report on Middleby (MIDD)MarketBeat: Week in Review 8/1 - 8/5How to Use High Beta Stocks to Maximize Your Investing ProfitsCronos Group Inc's Revenues Are Up, Is It Time to Buy?Beyond Meat Is Not Beyond Hope, And It's CheapWhy Apple Could Be At All-Time Highs By Year End

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