Middleby (NASDAQ:MIDD) Shares Gap Up Following Earnings Beat

The Middleby Corporation (NASDAQ:MIDD)’s stock price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $142.50, but opened at $159.58. Middleby shares last traded at $155.9840, with a volume of 72,145 shares traded.

The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.94 by $0.22. Middleby had a positive return on equity of 14.57% and a negative net margin of 7.44%.The company had revenue of $839.91 million during the quarter, compared to the consensus estimate of $777.19 million. During the same period last year, the company earned $2.08 EPS. Middleby’s revenue for the quarter was up 15.0% on a year-over-year basis. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS.

Analysts Set New Price Targets

Several research analysts have issued reports on MIDD shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Middleby in a research report on Friday, May 1st. Zacks Research cut Middleby from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Wall Street Zen cut Middleby from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Robert W. Baird raised their target price on Middleby from $159.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Finally, KeyCorp raised their target price on Middleby from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.57.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MIDD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Middleby by 90.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock valued at $66,000 after buying an additional 205 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Middleby by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 157,149 shares of the industrial products company’s stock worth $23,884,000 after purchasing an additional 9,936 shares in the last quarter. Focus Partners Wealth lifted its holdings in Middleby by 344.7% in the 1st quarter. Focus Partners Wealth now owns 2,228 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 1,727 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Middleby by 280.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 241 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new position in Middleby in the 2nd quarter worth approximately $202,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Trading Up 11.7%

The stock has a fifty day moving average of $143.89 and a 200 day moving average of $141.79. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.92 and a current ratio of 2.57. The company has a market capitalization of $7.42 billion, a PE ratio of -27.19 and a beta of 1.34.

Middleby Company Profile

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid‐cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.