The Middleby Corporation (NASDAQ:MIDD) Receives Average Rating of “Moderate Buy” from Brokerages

The Middleby Corporation (NASDAQ:MIDD) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $161.3333.

Several analysts recently weighed in on MIDD shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Middleby in a research report on Monday. Zacks Research upgraded Middleby from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Canaccord Genuity Group lifted their target price on Middleby from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, December 5th. KeyCorp reissued an “overweight” rating on shares of Middleby in a research note on Friday, December 5th. Finally, Wolfe Research set a $163.00 price objective on shares of Middleby and gave the company an “outperform” rating in a research note on Thursday, September 4th.

Insider Activity at Middleby

In related news, Director Robert A. Nerbonne purchased 780 shares of Middleby stock in a transaction dated Tuesday, December 9th. The stock was bought at an average cost of $128.52 per share, with a total value of $100,245.60. Following the purchase, the director owned 21,471 shares in the company, valued at approximately $2,759,452.92. The trade was a 3.77% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.18% of the company’s stock.

Institutional Investors Weigh In On Middleby

A number of institutional investors have recently added to or reduced their stakes in the company. Danske Bank A S acquired a new position in shares of Middleby during the 3rd quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Middleby during the second quarter valued at about $30,000. Allworth Financial LP grew its holdings in Middleby by 168.8% during the second quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 130 shares during the period. TFC Financial Management Inc. grew its holdings in Middleby by 23,000.0% during the third quarter. TFC Financial Management Inc. now owns 231 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 230 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in Middleby by 135.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 245 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 141 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Trading Down 0.6%

NASDAQ:MIDD opened at $150.90 on Wednesday. The firm has a market capitalization of $7.60 billion, a P/E ratio of -34.29 and a beta of 1.39. The business has a 50 day simple moving average of $129.99 and a 200 day simple moving average of $135.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.07 and a quick ratio of 1.10. Middleby has a 12-month low of $110.82 and a 12-month high of $182.73.

Middleby (NASDAQ:MIDD) last posted its earnings results on Thursday, November 6th. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.34. Middleby had a positive return on equity of 14.66% and a negative net margin of 5.22%.The company had revenue of $982.13 million for the quarter, compared to analysts’ expectations of $961.21 million. During the same period last year, the business posted $2.33 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS and its Q4 2025 guidance at 2.190-2.340 EPS. Equities research analysts predict that Middleby will post 9.11 EPS for the current year.

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.