Middleby (NASDAQ:MIDD) Price Target Raised to $165.00

Middleby (NASDAQ:MIDD) had its target price raised by JPMorgan Chase & Co. from $145.00 to $165.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

MIDD has been the subject of a number of other research reports. Royal Bank Of Canada set a $147.00 price objective on Middleby in a research report on Tuesday, September 15th. Oppenheimer reissued an “outperform” rating and issued a $160.00 price target (down from $205.00) on shares of Middleby in a report on Wednesday, August 12th. Barclays restated an “overweight” rating and issued a $145.00 price objective (down from $155.00) on shares of Middleby in a research note on Thursday, August 13th. Weiss Ratings cut shares of Middleby from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 18th. Finally, Wall Street Zen downgraded shares of Middleby from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $161.75.

Middleby Stock Performance

NASDAQ:MIDD opened at $136.50 on Friday. The firm’s 50-day moving average is $111.38 and its 200-day moving average is $137.15. Middleby has a 52-week low of $102.14 and a 52-week high of $180.13. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.07 and a current ratio of 2.00. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 160.59 and a beta of 1.29.

Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, November 5th. The industrial products company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.32. Middleby had a net margin of 1.24% and a return on equity of 19.42%. The business had revenue of $652.58 million during the quarter, compared to analysts’ expectations of $634.04 million. During the same quarter last year, the company earned $2.37 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Middleby has set its Q4 2026 guidance at 1.760-1.920 EPS and its FY 2026 guidance at 7.130-7.290 EPS. Equities research analysts anticipate that Middleby will post 7.21 earnings per share for the current year.

Hedge Funds Weigh In On Middleby

A number of hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp lifted its position in Middleby by 1.9% during the 3rd quarter. Fifth Third Bancorp now owns 24,034 shares of the industrial products company’s stock worth $2,490,000 after buying an additional 453 shares in the last quarter. Maryland State Retirement & Pension System increased its position in Middleby by 18.2% in the 3rd quarter. Maryland State Retirement & Pension System now owns 2,945 shares of the industrial products company’s stock valued at $305,000 after acquiring an additional 453 shares in the last quarter. Ritholtz Wealth Management increased its position in Middleby by 2.2% in the 3rd quarter. Ritholtz Wealth Management now owns 4,237 shares of the industrial products company’s stock valued at $439,000 after acquiring an additional 91 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in Middleby by 196.1% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 13,160 shares of the industrial products company’s stock valued at $1,363,000 after acquiring an additional 8,716 shares in the last quarter. Finally, Lido Advisors LLC bought a new position in shares of Middleby in the third quarter worth about $231,000. 98.55% of the stock is owned by institutional investors and hedge funds.

Middleby Company Profile

Middleby Corporation develops and manufactures equipment for commercial kitchens, food-processing operations and residential kitchens. Its commercial foodservice products include ovens, ranges, fryers, refrigeration systems and food-preparation equipment used by restaurants and other foodservice operators.

The company also supplies industrial equipment to food manufacturers, including systems for cooking, mixing, forming and packaging food products. Its residential kitchen business offers premium appliances such as ranges, ovens, refrigerators and outdoor cooking products.

Middleby serves customers in markets around the world.