Zacks Research Upgrades Middleby (NASDAQ:MIDD) to “Hold”

Middleby (NASDAQ:MIDD) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

Other equities analysts also recently issued reports about the stock. Robert W. Baird downgraded shares of Middleby from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Weiss Ratings cut shares of Middleby from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 18th. Wall Street Zen cut shares of Middleby from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Seaport Research Partners set a $145.00 price target on shares of Middleby in a report on Wednesday, August 12th. Finally, Jefferies Financial Group lowered their price target on shares of Middleby from $200.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.25.

Middleby Trading Up 1.0%

Shares of MIDD stock opened at $106.46 on Monday. The company has a market capitalization of $4.81 billion, a P/E ratio of -11.50 and a beta of 1.32. Middleby has a 12-month low of $102.14 and a 12-month high of $180.13. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $112.34 and a 200 day moving average price of $135.07.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share for the quarter, topping 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 company had revenue of $875.55 million during the quarter, compared to analyst estimates of $836.99 million. During the same quarter last year, the business posted $2.35 earnings per share. The company’s revenue 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. Research analysts forecast that Middleby will post 6.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Middleby

Several hedge funds have recently added to or reduced their stakes in MIDD. Krilogy Financial LLC bought a new stake in Middleby during the 3rd quarter worth about $201,000. NorthCrest Asset Manangement LLC bought a new position in shares of Middleby in the 3rd quarter valued at about $488,000. Farther Finance Advisors LLC boosted its stake in shares of Middleby by 487.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 458 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 380 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in shares of Middleby by 182.4% in the 3rd quarter. Elevation Wealth Partners LLC now owns 480 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 310 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Middleby by 54.7% during the 3rd quarter. Versant Capital Management Inc now owns 2,686 shares of the industrial products company’s stock worth $278,000 after buying an additional 950 shares during the period. Institutional investors own 98.55% of the company’s stock.

Middleby Company Profile

Middleby Corporation is a manufacturer of commercial, residential and industrial foodservice equipment. The company serves restaurants, hotels, institutional kitchens, food retailers, food processors and consumers through a portfolio of equipment brands and product lines.

Its commercial foodservice products include ovens, ranges, fryers, griddles, cooking systems, refrigeration equipment, ventilation systems, beverage equipment and food-preparation solutions. Middleby also provides equipment for commercial dishwashing, baking and other specialized kitchen applications.

The company’s residential portfolio includes premium kitchen appliances such as ranges, ovens, refrigerators, ventilation products, outdoor cooking equipment and specialty appliances.