Short Interest in The Middleby Corporation (NASDAQ:MIDD) Drops By 17.0%

The Middleby Corporation (NASDAQ:MIDD) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 1,657,455 shares, a decline of 17.0% from the February 12th total of 1,996,915 shares. Based on an average daily volume of 593,018 shares, the days-to-cover ratio is currently 2.8 days. Currently, 3.7% of the shares of the stock are short sold. Currently, 3.7% of the shares of the stock are short sold. Based on an average daily volume of 593,018 shares, the days-to-cover ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Middleby from $159.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. JPMorgan Chase & Co. upped their price target on Middleby from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Canaccord Genuity Group set a $187.00 price objective on Middleby and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (d)” rating on shares of Middleby in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Middleby from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Middleby has an average rating of “Moderate Buy” and an average price target of $174.17.

Middleby Trading Down 0.8%

Shares of NASDAQ:MIDD traded down $1.16 during mid-day trading on Monday, hitting $141.92. The stock had a trading volume of 629,917 shares, compared to its average volume of 643,554. The company’s 50 day moving average is $155.54 and its 200-day moving average is $140.95. Middleby has a 12-month low of $110.82 and a 12-month high of $169.44. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.92 and a current ratio of 2.57. The company has a market cap of $6.70 billion, a PE ratio of -24.77 and a beta of 1.36.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Thursday, February 26th. The industrial products company reported $2.14 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.13). The firm had revenue of $334.59 million for the quarter, compared to analysts’ expectations of $1.01 billion. Middleby had a positive return on equity of 14.57% and a negative net margin of 7.44%.The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.88 earnings per share. Middleby has set its FY 2026 guidance at 9.200-9.360 EPS and its Q1 2026 guidance at 1.900-2.020 EPS. On average, sell-side analysts predict that Middleby will post 9.11 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MIDD. Price T Rowe Associates Inc. MD lifted its stake in Middleby by 49.2% in the 4th 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 acquiring an additional 1,902,957 shares in the last quarter. Invesco Ltd. lifted its position in shares of Middleby by 1,046.4% in the third quarter. Invesco Ltd. now owns 1,018,536 shares of the industrial products company’s stock worth $135,394,000 after purchasing an additional 929,688 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Middleby by 4,256.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 722,137 shares of the industrial products company’s stock worth $107,361,000 after purchasing an additional 705,560 shares during the period. SG Capital Management LLC purchased a new position in Middleby during the third quarter valued at approximately $55,260,000. Finally, Cooke & Bieler LP acquired a new position in Middleby in the 4th quarter valued at approximately $48,113,000. 98.55% of the stock is owned by institutional investors and hedge funds.

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.