Middleby (NASDAQ:MIDD) Rating Increased to Overweight at JPMorgan Chase & Co.

Middleby (NASDAQ:MIDD) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday, Briefing.com reports. The brokerage presently has a $147.00 price objective on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 33.98% from the stock’s current price.

Several other research analysts also recently commented on MIDD. Oppenheimer restated an “outperform” rating and issued a $160.00 target price (down from $205.00) on shares of Middleby in a research note on Wednesday, August 12th. Seaport Research Partners set a $145.00 price target on Middleby in a research report on Wednesday, August 12th. Zacks Research downgraded shares of Middleby from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Weiss Ratings lowered shares of Middleby from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen cut shares of Middleby from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $159.50.

Middleby Trading Up 1.3%

Shares of MIDD stock opened at $109.72 on Tuesday. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of -11.85 and a beta of 1.31. The company’s fifty day simple moving average is $123.49 and its two-hundred day simple moving average is $141.25. Middleby has a 1 year low of $104.24 and a 1 year high of $180.13. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.99 and a quick ratio of 1.10.

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

Institutional Trading of Middleby

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

About Middleby

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.