Middleby (NASDAQ:MIDD) Reaches New 52-Week Low – Here’s What Happened

The Middleby Corporation (NASDAQ:MIDD) reached a new 52-week low on Tuesday . The stock traded as low as $109.57 and last traded at $109.62, with a volume of 145799 shares trading hands. The stock had previously closed at $111.75.

Analysts Set New Price Targets

Several research firms recently commented on MIDD. Zacks Research lowered shares of Middleby from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Weiss Ratings lowered shares of Middleby from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 18th. Wall Street Zen downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Canaccord Genuity Group set a $160.00 price target on shares of Middleby and gave the stock a “buy” rating in a research report on Tuesday, September 1st. Finally, Robert W. Baird lowered Middleby from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $160.43.

Middleby Price Performance

The company has a market cap of $4.96 billion, a PE ratio of -11.84 and a beta of 1.31. The business’s 50 day moving average price is $130.18 and its 200-day moving average price is $143.14. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.88.

Middleby (NASDAQ:MIDD) last announced its earnings results on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share for the quarter, beating 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 business had revenue of $875.55 million during the quarter, compared to the consensus estimate of $836.99 million. During the same period in the prior year, the firm earned $2.35 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. As a group, analysts forecast that The Middleby Corporation will post 6.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MIDD. California State Teachers Retirement System increased its holdings in Middleby by 14,843.9% during the 2nd quarter. California State Teachers Retirement System now owns 8,350,225 shares of the industrial products company’s stock worth $1,436,322,000 after purchasing an additional 8,294,348 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Middleby by 49.2% during the fourth 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 buying an additional 1,902,957 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Middleby in the second quarter worth $676,035,000. Garden Investment Management L.P. raised its holdings in Middleby by 3.1% in the fourth quarter. Garden Investment Management L.P. now owns 3,379,737 shares of the industrial products company’s stock valued at $502,466,000 after acquiring an additional 102,903 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Middleby by 3.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,153,171 shares of the industrial products company’s stock valued at $320,112,000 after acquiring an additional 75,047 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Company Profile

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.