Middleby (NASDAQ:MIDD) Hits New 12-Month Low – Here’s Why

The Middleby Corporation (NASDAQ:MIDD) reached a new 52-week low on Monday . The stock traded as low as $113.98 and last traded at $114.26, with a volume of 350777 shares trading hands. The stock had previously closed at $118.04.

Analyst Ratings Changes

A number of analysts have recently commented on MIDD shares. Wall Street Zen upgraded shares of Middleby from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Barclays set a $168.00 price target on Middleby and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Middleby in a report on Monday. Zacks Research raised shares of Middleby from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Wolfe Research set a $163.00 price target on shares of Middleby and gave the company an “outperform” rating in a research report on Thursday, September 4th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $160.57.

Middleby Stock Performance

The company has a market cap of $5.62 billion, a P/E ratio of 14.20 and a beta of 1.57. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $130.40 and a two-hundred day simple moving average of $138.18.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.03 by $0.34. The firm had revenue of $982.13 million during the quarter, compared to analyst estimates of $961.21 million. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 EPS. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS. Q4 2025 guidance at 2.190-2.340 EPS. On average, sell-side analysts anticipate that The Middleby Corporation will post 9.11 EPS for the current year.

Institutional Investors Weigh In On Middleby

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIDD. Beacon Investment Advisory Services Inc. bought a new position in shares of Middleby in the first quarter worth approximately $222,000. Cetera Investment Advisers increased its stake in Middleby by 100.8% in the 1st quarter. Cetera Investment Advisers now owns 6,127 shares of the industrial products company’s stock worth $931,000 after buying an additional 3,075 shares in the last quarter. Heartland Advisors Inc. raised its holdings in Middleby by 25.4% during the first quarter. Heartland Advisors Inc. now owns 62,051 shares of the industrial products company’s stock valued at $9,431,000 after acquiring an additional 12,581 shares during the period. Applied Finance Capital Management LLC purchased a new position in shares of Middleby in the first quarter valued at about $203,000. Finally, TD Asset Management Inc boosted its stake in shares of Middleby by 33.0% in the first quarter. TD Asset Management Inc now owns 257,763 shares of the industrial products company’s stock worth $39,175,000 after acquiring an additional 64,028 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Company Profile

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and 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; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.