Middleby (NASDAQ:MIDD – Get Free Report) was downgraded by stock analysts at Robert W. Baird from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.
Other analysts have also recently issued reports about the company. Jefferies Financial Group reduced their price objective on Middleby from $200.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday. Canaccord Genuity Group set a $200.00 price target on Middleby in a report on Friday, May 8th. Oppenheimer initiated coverage on Middleby in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $205.00 price target on the stock. Barclays reiterated an “overweight” rating and issued a $190.00 price objective (up from $168.00) on shares of Middleby in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Middleby from $150.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Middleby presently has an average rating of “Moderate Buy” and an average price target of $187.25.
View Our Latest Research Report on MIDD
Middleby Trading Down 5.1%
Middleby (NASDAQ:MIDD – Get Free Report) last released its earnings results 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 company had revenue of $839.91 million for the quarter, compared to analyst estimates of $777.19 million. During the same period in the prior year, the business earned $2.08 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. Equities research analysts predict that Middleby will post 9.58 EPS for the current fiscal year.
Hedge Funds Weigh In On Middleby
Institutional investors and hedge funds have recently modified their holdings of the company. Torren Management LLC acquired a new stake in Middleby in the fourth quarter valued at $25,000. Clearstead Advisors LLC boosted its position in shares of Middleby by 201.8% during the 4th quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 111 shares in the last quarter. Danske Bank A S purchased a new position in shares of Middleby in the 3rd quarter valued at about $27,000. Larson Financial Group LLC increased its holdings in shares of Middleby by 1,292.9% in the 4th quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 181 shares during the last quarter. Finally, Elevation Wealth Partners LLC raised its position in shares of Middleby by 553.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 170 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 144 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.
Middleby Company Profile
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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