Middleby (NASDAQ:MIDD) Raised to “Hold” at Zacks Research

Middleby (NASDAQ:MIDD) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

A number of other analysts also recently issued reports on the stock. KeyCorp set a $152.00 price objective on shares of Middleby in a report on Tuesday, July 14th. Robert W. Baird downgraded shares of Middleby from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Weiss Ratings downgraded shares of Middleby from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 18th. Barclays reissued an “overweight” rating and set a $145.00 price target (down from $155.00) on shares of Middleby in a research report on Thursday, August 13th. Finally, Canaccord Genuity Group set a $160.00 price objective on shares of Middleby and gave the stock a “buy” rating in a research note on Tuesday, September 1st. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $159.25.

Middleby Stock Performance

MIDD opened at $106.46 on Monday. The business’s 50-day moving average price is $112.34 and its two-hundred day moving average price is $135.07. Middleby has a 1 year low of $102.14 and a 1 year high of $180.13. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of -11.50 and a beta of 1.32. 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 announced its earnings results on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.26. The business had revenue of $875.55 million for 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%. Middleby’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.35 EPS. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. Equities analysts expect that Middleby will post 6.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Middleby

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Middleby during the 2nd quarter valued at $27,000. Elevation Wealth Partners LLC increased its holdings in shares of Middleby by 553.8% in the second quarter. Elevation Wealth Partners LLC now owns 170 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 144 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Middleby in the second quarter valued at $37,000. Root Financial Partners LLC raised its position in shares of Middleby by 64.2% in the first quarter. Root Financial Partners LLC now owns 261 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 102 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Middleby in the second quarter valued at about $55,000. 98.55% of the stock is owned by institutional investors.

About Middleby

Middleby Corporation is a manufacturer of commercial, residential and industrial foodservice equipment. The company serves restaurants, hotels, institutional kitchens, food retailers, food processors and consumers through a portfolio of equipment brands and product lines.

Its commercial foodservice products include ovens, ranges, fryers, griddles, cooking systems, refrigeration equipment, ventilation systems, beverage equipment and food-preparation solutions. Middleby also provides equipment for commercial dishwashing, baking and other specialized kitchen applications.

The company’s residential portfolio includes premium kitchen appliances such as ranges, ovens, refrigerators, ventilation products, outdoor cooking equipment and specialty appliances.