The Middleby Corporation (NASDAQ:MIDD) Receives $160.57 Average PT from Brokerages

Shares of The Middleby Corporation (NASDAQ:MIDD) have been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $160.5714.

A number of research firms have weighed in on MIDD. Canaccord Genuity Group lowered their price target on Middleby from $175.00 to $171.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. JPMorgan Chase & Co. upgraded Middleby from an “underweight” rating to a “neutral” rating and reduced their price objective for the company from $140.00 to $125.00 in a research report on Friday, November 7th. Zacks Research raised Middleby from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Middleby in a research note on Monday, November 24th. Finally, Barclays set a $168.00 price target on shares of Middleby and gave the stock an “overweight” rating in a research note on Tuesday, November 11th.

Institutional Trading of Middleby

Several institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in shares of Middleby by 59.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,029,484 shares of the industrial products company’s stock valued at $460,422,000 after buying an additional 1,133,931 shares during the last quarter. Invesco Ltd. grew its position in Middleby by 1,046.4% during the 3rd quarter. Invesco Ltd. now owns 1,018,536 shares of the industrial products company’s stock worth $135,394,000 after acquiring an additional 929,688 shares during the last quarter. SG Capital Management LLC purchased a new position in Middleby in the 3rd quarter worth approximately $55,260,000. Marshall Wace LLP lifted its position in Middleby by 260.0% in the third quarter. Marshall Wace LLP now owns 419,936 shares of the industrial products company’s stock valued at $55,822,000 after purchasing an additional 303,293 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Middleby during the first quarter valued at approximately $29,733,000. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Middleby Trading Down 0.1%

Shares of Middleby stock opened at $118.11 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.56. Middleby has a 1 year low of $110.82 and a 1 year high of $182.73. The firm has a market cap of $5.95 billion, a PE ratio of 15.03 and a beta of 1.57. The company has a 50 day simple moving average of $126.96 and a two-hundred day simple moving average of $136.55.

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

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.