Middleby (NASDAQ:MIDD) Shares Down 6.3% Following Analyst Downgrade

The Middleby Corporation (NASDAQ:MIDD – Get Free Report)’s share price dropped 6.3% on Wednesday after Jefferies Financial Group lowered their price target on the stock from $200.00 to $160.00. Jefferies Financial Group currently has a buy rating on the stock. Middleby traded as low as $132.63 and last traded at $130.4650. 35,765 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 633,919 shares. The stock had previously closed at $139.26.

MIDD has been the topic of a number of other reports. Weiss Ratings restated a “sell (d+)” rating on shares of Middleby in a research report on Friday, May 1st. Oppenheimer assumed coverage on Middleby in a research report on Wednesday, June 17th. They set an “outperform” rating and a $205.00 target price on the stock. Wall Street Zen upgraded Middleby from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. Robert W. Baird set a $205.00 price target on Middleby in a research report on Friday, May 8th. Finally, Barclays reaffirmed an “overweight” rating and set a $190.00 price objective (up from $168.00) on shares of Middleby in a research note on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.25.

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Hedge Funds Weigh In On Middleby

Several institutional investors have recently made changes to their positions in MIDD. Price T Rowe Associates Inc. MD increased its holdings in shares of Middleby by 49.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,772,249 shares of the industrial products company’s stock valued at $858,161,000 after acquiring an additional 1,902,957 shares during the period. Invesco Ltd. lifted its stake in shares of 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 purchasing an additional 929,688 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Middleby by 4,256.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 722,137 shares of the industrial products company’s stock valued at $107,361,000 after purchasing an additional 705,560 shares in the last quarter. Cooke & Bieler LP purchased a new position in Middleby in the fourth quarter valued at about $48,113,000. Finally, Marshall Wace LLP grew its stake 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. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Price Performance

The firm has a market capitalization of $5.94 billion, a P/E ratio of -15.54 and a beta of 1.33. The stock’s fifty day simple moving average is $156.70 and its 200 day simple moving average is $151.92. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.96 and a quick ratio of 1.10.

Middleby (NASDAQ:MIDD – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.22. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. The firm had revenue of $839.91 million for the quarter, compared to the consensus estimate of $777.19 million. During the same quarter in the previous year, the firm earned $2.08 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. On average, equities research analysts predict that The Middleby Corporation will post 9.58 EPS for the current year.

About Middleby

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Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid‐cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.

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