Middleby (NASDAQ:MIDD) Sets New 1-Year Low – Here’s What Happened

The Middleby Corporation (NASDAQ:MIDD) reached a new 52-week low on Wednesday. The stock traded as low as $104.22 and last traded at $104.9150, with a volume of 91231 shares trading hands. The stock had previously closed at $105.56.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MIDD shares. Royal Bank Of Canada set a $147.00 price target on Middleby in a research note on Tuesday, September 15th. JPMorgan Chase & Co. upgraded shares of Middleby from a “neutral” rating to an “overweight” rating and raised their target price for the company from $141.00 to $147.00 in a report on Tuesday, September 15th. Zacks Research cut shares of Middleby from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th. KeyCorp set a $152.00 price target on shares of Middleby in a report on Tuesday, July 14th. Finally, Jefferies Financial Group lowered their price target on shares of Middleby from $200.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $159.50.

Middleby Trading Down 0.5%

The company has a market cap of $4.75 billion, a PE ratio of -11.34 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.88. The business has a 50 day simple moving average of $118.17 and a two-hundred day simple moving average of $137.53.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.26. Middleby had a negative net margin of 13.22% and a positive return on equity of 17.44%. The company had revenue of $875.55 million for the quarter, compared to the consensus estimate of $836.99 million. During the same quarter last year, the firm posted $2.35 earnings per share. Middleby’s revenue was down 10.5% on a year-over-year basis. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. On average, analysts forecast that The Middleby Corporation will post 6.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new stake in Middleby in the 2nd quarter valued at $205,000. Tidal Investments LLC boosted its position in shares of Middleby by 131.3% in the second quarter. Tidal Investments LLC now owns 9,489 shares of the industrial products company’s stock worth $1,632,000 after buying an additional 5,386 shares during the period. Engineers Gate Manager LP grew its stake in shares of Middleby by 514.9% in the second quarter. Engineers Gate Manager LP now owns 10,699 shares of the industrial products company’s stock valued at $1,840,000 after buying an additional 8,959 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Middleby during the 2nd quarter valued at about $55,000. Finally, Nykredit A S purchased a new stake in shares of Middleby during the 2nd quarter valued at about $363,000. 98.55% of the stock is owned by institutional investors and hedge funds.

Middleby Company Profile

Middleby Corporation is a global manufacturer of commercial foodservice, residential kitchen, and food processing equipment. Its products are used by restaurants, hotels, institutional kitchens, food retailers, and food manufacturers around the world.

The company’s commercial foodservice portfolio includes cooking, baking, frying, refrigeration, ventilation, beverage, and food preparation equipment. Its residential brands offer cooking appliances, refrigeration, outdoor kitchen products, and related specialty equipment.