JPMorgan Chase & Co. upgraded shares of Middleby (NASDAQ:MIDD – Free Report) from a neutral rating to an overweight rating in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have $147.00 price target on the industrial products company’s stock, up from their prior price target of $141.00.
A number of other equities analysts have also weighed in on MIDD. Oppenheimer reissued an “outperform” rating and issued a $160.00 price objective (down from $205.00) on shares of Middleby in a research report on Wednesday, August 12th. KeyCorp set a $152.00 target price on shares of Middleby in a research report on Tuesday, July 14th. Royal Bank Of Canada set a $147.00 target price on shares of Middleby in a research note on Tuesday. Robert W. Baird downgraded Middleby from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen lowered Middleby from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $159.50.
Get Our Latest Analysis on MIDD
Middleby Stock Down 0.9%
Middleby (NASDAQ:MIDD – Get Free Report) last announced its earnings results on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.26. Middleby had a negative net margin of 13.22% and a positive return on equity of 17.44%. The firm had revenue of $875.55 million during the quarter, compared to the consensus estimate of $836.99 million. During the same quarter in the previous year, the company posted $2.35 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. 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, equities research analysts anticipate that Middleby will post 6.85 EPS for the current fiscal year.
Institutional Investors Weigh In On Middleby
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Middleby in the second quarter worth about $676,035,000. Garden Investment Management L.P. raised its holdings in shares of Middleby by 3.1% during the 4th quarter. Garden Investment Management L.P. now owns 3,379,737 shares of the industrial products company’s stock valued at $502,466,000 after buying an additional 102,903 shares during the period. Bank of America Corp DE purchased a new stake in shares of Middleby during the 2nd quarter valued at about $138,803,000. Sei Investments Co. lifted its position in Middleby by 6.5% during the 1st quarter. Sei Investments Co. now owns 803,383 shares of the industrial products company’s stock worth $106,514,000 after acquiring an additional 49,228 shares in the last quarter. Finally, Clarkston Capital Partners LLC lifted its position in Middleby by 21.5% during the 4th quarter. Clarkston Capital Partners LLC now owns 788,809 shares of the industrial products company’s stock worth $117,272,000 after acquiring an additional 139,637 shares in the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.
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.
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