Middleby (NASDAQ:MIDD) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Middleby (NASDAQ:MIDD) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

A number of other equities research analysts also recently issued reports on the company. Oppenheimer started coverage on Middleby in a research report on Wednesday, June 17th. They set an “outperform” rating and a $205.00 price target for the company. Robert W. Baird downgraded Middleby from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Canaccord Genuity Group set a $200.00 price objective on Middleby in a research note on Friday, May 8th. KeyCorp set a $152.00 target price on Middleby in a report on Tuesday, July 14th. Finally, Jefferies Financial Group dropped their target price on shares of Middleby from $200.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.88.

Middleby Stock Performance

Shares of MIDD stock opened at $129.56 on Monday. Middleby has a one year low of $110.82 and a one year high of $180.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.96. The company has a 50 day moving average price of $154.32 and a 200 day moving average price of $150.89. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of -15.28 and a beta of 1.33.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Thursday, May 7th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.22. The company had revenue of $839.91 million for the quarter, compared to analyst estimates of $777.19 million. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. Middleby’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the business earned $2.08 EPS. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. Sell-side analysts anticipate that Middleby will post 9.54 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MIDD. M&T Bank Corp purchased a new stake in Middleby during the 4th quarter worth $15,085,000. Tudor Investment Corp ET AL boosted its position in Middleby by 45.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 75,950 shares of the industrial products company’s stock valued at $10,096,000 after buying an additional 23,737 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Middleby during the fourth quarter valued at about $11,980,000. Hsbc Holdings PLC acquired a new stake in shares of Middleby during the fourth quarter valued at about $2,464,000. Finally, Oak Thistle LLC increased its position in shares of Middleby by 345.9% during the fourth quarter. Oak Thistle LLC now owns 11,169 shares of the industrial products company’s stock worth $1,660,000 after acquiring an additional 8,664 shares during the last quarter. 98.55% of the stock is owned by hedge funds and other 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.