Middleby (NASDAQ:MIDD) Shares Gap Down – Here’s What Happened

The Middleby Corporation (NASDAQ:MIDD)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $179.20, but opened at $146.07. Middleby shares last traded at $139.8790, with a volume of 29,205 shares trading hands.

Wall Street Analyst Weigh In

MIDD has been the topic of a number of recent research reports. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. Jefferies Financial Group cut their price objective on shares of Middleby from $200.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Middleby in a report on Friday, May 1st. Barclays reiterated an “overweight” rating and issued a $190.00 price target (up from $168.00) on shares of Middleby in a research report on Friday, May 8th. Finally, Oppenheimer began coverage on Middleby in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $205.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $187.25.

Middleby Stock Performance

The stock has a 50 day moving average of $156.49 and a 200 day moving average of $151.81. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 0.77. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of -15.59 and a beta of 1.33.

Middleby (NASDAQ:MIDD) last announced 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. The firm had revenue of $839.91 million for the quarter, compared to the consensus estimate of $777.19 million. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 earnings per share. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. As a group, analysts anticipate that The Middleby Corporation will post 9.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in Middleby by 49.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,772,249 shares of the industrial products company’s stock worth $858,161,000 after purchasing an additional 1,902,957 shares during the last quarter. Garden Investment Management L.P. lifted its position 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 worth $502,466,000 after buying an additional 102,903 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Middleby by 3.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,153,171 shares of the industrial products company’s stock valued at $320,112,000 after buying an additional 75,047 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Middleby by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,486,120 shares of the industrial products company’s stock valued at $220,950,000 after acquiring an additional 58,696 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. grew its position in Middleby by 4.2% in the third quarter. Turtle Creek Asset Management Inc. now owns 1,461,810 shares of the industrial products company’s stock valued at $194,318,000 after acquiring an additional 59,050 shares during the last quarter. 98.55% of the stock is owned by institutional investors.

About Middleby

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.