Middleby (NASDAQ:MIDD) Rating Increased to Buy at Wall Street Zen

Middleby (NASDAQ:MIDD) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Other analysts also recently issued research reports about the company. Canaccord Genuity Group cut their price target on Middleby from $175.00 to $171.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. raised Middleby from an “underweight” rating to a “neutral” rating and dropped their target price for the stock from $140.00 to $125.00 in a research report on Friday. Barclays reissued an “overweight” rating and set a $180.00 price target (up previously from $165.00) on shares of Middleby in a report on Monday, October 20th. Zacks Research raised shares of Middleby from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. Finally, Wolfe Research set a $163.00 target price on shares of Middleby and gave the company an “outperform” rating in a research note on Thursday, September 4th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.29.

Middleby Stock Performance

MIDD stock traded up $3.14 during trading on Friday, hitting $123.20. 1,066,614 shares of the company’s stock traded hands, compared to its average volume of 860,207. Middleby has a 52 week low of $114.57 and a 52 week high of $182.73. The stock has a fifty day moving average price of $133.20 and a two-hundred day moving average price of $138.71. 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 stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 15.67 and a beta of 1.57.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.37 earnings per share for the quarter, topping the consensus estimate 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 business earned $2.33 earnings per share. Middleby’s quarterly revenue was up 4.2% on a year-over-year basis. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS. Q4 2025 guidance at 2.190-2.340 EPS. As a group, equities analysts anticipate that Middleby will post 9.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Middleby

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Capital Management LLC bought a new position in shares of Middleby in the third quarter valued at $55,260,000. NewEdge Wealth LLC grew its holdings in shares of Middleby by 9.0% in the 3rd quarter. NewEdge Wealth LLC now owns 2,671 shares of the industrial products company’s stock worth $330,000 after acquiring an additional 220 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Middleby during the third quarter worth $1,711,000. Syon Capital LLC lifted its holdings in shares of Middleby by 5.3% during the third quarter. Syon Capital LLC now owns 2,386 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 120 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Middleby in the 3rd quarter valued at $330,000. 98.55% of the stock is currently owned by 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.