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MIDD

Middleby

$102.00

0.2 (0.20%)

, WBT

Welbilt

$23.51

-0.08 (-0.34%)

10:46
07/13/18
07/13
10:46
07/13/18
10:46

Middleby earnings estimates 'still a little too high,' says Buckingham

Buckingham analyst James Clement maintained a Neutral rating and $115 price target on The Middleby Corporation (MIDD), telling investors in a research note that his chief concern are earnings estimates that he thinks are "still a little too high" in the near-term. While he thinks commercial foodservice is showing signs of improvement, Clement says he has no visibility on any potential improvements in large Processing orders and is concerned organic sales could decline in proportion with the 28.7% decline seen in Q1. Clement says he prefers Welbilt (WBT) at this time due to its "pure play" commercial foodservice exposure.

MIDD

Middleby

$102.00

0.2 (0.20%)

WBT

Welbilt

$23.51

-0.08 (-0.34%)

MIDD Middleby
$102.00

0.2 (0.20%)

05/10/18
BARD
05/10/18
DOWNGRADE
BARD
Neutral
Middleby downgraded to Neutral from Outperform at Baird
05/10/18
BARD
05/10/18
DOWNGRADE
Target $116
BARD
Neutral
Middleby downgraded to Neutral at Baird
As reported previously, Baird analyst Timothy Wojs downgraded Middleby to Neutral from Outperform. The analyst cited its disappointing Q1 results, larger declines in Food Processing and Residential, and its challenged near-term visibility. Wojs lowered his price target to $116 from $145 on Middleby shares.
05/11/18
BMOC
05/11/18
NO CHANGE
Target $130
BMOC
Outperform
Middleby price target lowered to $130 from $160 at BMO Capital
BMO Capital analyst Joel Tiss lowered his price target on Middleby to $130 after a "disastrous" Q1 report that created "plenty of concern" around structural challenges for the company and the food equipment industry. The analyst cites bigger than expected sales declines across all segments, with Residential Kitchen revenue down 8.4% and Commercial Foodservice down 1.4%. Despite the setback following his label of the stock as the "top idea" in March, the analyst keeps his Outperform rating on Middleby, saying its "long-term prospects remain extremely bright, as the company maintains its status as the primary consolidator in a fragmented industry".
05/24/18
BUCK
05/24/18
INITIATION
Target $115
BUCK
Neutral
Middleby initiated with a Neutral at Buckingham
Buckingham analyst James Clement started Middleby with a Neutral rating and $115 price target, stating that he sees signs pointing to a recovery beginning in late-2018 in large "roll-out" sales to restaurants but doesn't see a need to rush to buy the stock before the recovery becomes more tangible.
WBT Welbilt
$23.51

-0.08 (-0.34%)

02/27/18
KEYB
02/27/18
NO CHANGE
Target $25
KEYB
Overweight
Welbilt should be bought on weakness, says KeyBanc
KeyBanc analyst Jeffrey Hammond says that while Q4 operating results fell short of his expectations, he is encouraged by strengthening in several of Welbilt's markets, and believes underlying growth and margin stability signal positively for earnings going forward. The analyst reiterates an Overweight rating and $25 price target on the shares.
04/18/18
LBOW
04/18/18
UPGRADE
LBOW
Buy
Welbilt upgraded to Buy from Neutral at Longbow
05/24/18
BUCK
05/24/18
INITIATION
Target $24
BUCK
Buy
Welbilt initiated with a Buy at Buckingham
Buckingham analyst James Clement started Welbilt with a Buy rating and $24 price target, stating that the company has done an excellent job rebuilding credibility with both customers and investors and he views the 18% year-to-date decline in the shares as a buying opportunity.
06/28/18
KING
06/28/18
INITIATION
KING
Neutral
Welbilt initiated with a Neutral at CL King
CL King initiated Welbilt with a Neutral citing premium valuation, inconsistent growth, and relatively high level of interest expense.

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NEWR

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XXII

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BCRX

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ECOR

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FTI

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QTS

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BA

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