Middleby (NASDAQ:MIDD) Given New $175.00 Price Target at Canaccord Genuity Group

Middleby (NASDAQ:MIDD) had its price objective hoisted by stock analysts at Canaccord Genuity Group from $171.00 to $175.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 38.92% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Wolfe Research set a $163.00 price target on shares of Middleby and gave the company an “outperform” rating in a research note on Thursday, September 4th. Weiss Ratings restated a “sell (d)” rating on shares of Middleby in a report on Monday. Barclays set a $168.00 price target on Middleby and gave the company an “overweight” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. raised Middleby from an “underweight” rating to a “neutral” rating and dropped their price target for the stock from $140.00 to $125.00 in a research note on Friday, November 7th. Finally, Zacks Research upgraded shares of Middleby from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $161.14.

Middleby Stock Performance

MIDD stock traded up $0.12 during midday trading on Friday, reaching $125.98. The company had a trading volume of 317,268 shares, compared to its average volume of 849,784. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $126.22 and a 200 day moving average price of $136.13. The firm has a market capitalization of $6.35 billion, a PE ratio of -28.63 and a beta of 1.39. Middleby has a fifty-two week low of $110.82 and a fifty-two week high of $182.73.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.34. The business had revenue of $982.13 million during the quarter, compared to analyst estimates of $961.21 million. Middleby had a positive return on equity of 14.66% and a negative net margin of 5.22%.The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.33 EPS. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS and its Q4 2025 guidance at 2.190-2.340 EPS. Analysts anticipate that Middleby will post 9.11 earnings per share for the current year.

Hedge Funds Weigh In On Middleby

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIDD. Cetera Investment Advisers increased its stake in shares of Middleby by 100.8% during the 1st quarter. Cetera Investment Advisers now owns 6,127 shares of the industrial products company’s stock worth $931,000 after purchasing an additional 3,075 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Middleby by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 352,837 shares of the industrial products company’s stock worth $53,624,000 after buying an additional 4,614 shares during the last quarter. Headlands Technologies LLC bought a new position in Middleby during the first quarter valued at about $592,000. Townsquare Capital LLC lifted its position in shares of Middleby by 10.4% in the first quarter. Townsquare Capital LLC now owns 7,237 shares of the industrial products company’s stock worth $1,100,000 after buying an additional 684 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Middleby during the 1st quarter worth about $29,733,000. Institutional investors own 98.55% of the company’s stock.

About Middleby

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.