JPMorgan Chase & Co. Upgrades Middleby (NASDAQ:MIDD) to "Overweight"

Key Points

• JPMorgan upgraded Middleby to “overweight” from “neutral” and assigned a $147 price target, implying approximately 34% upside from the stock’s $109.72 price.
• Analyst sentiment remains mixed: Middleby has an average “Hold” rating and a $159.50 consensus target, with six Buy, one Hold, and two Sell ratings.
• Middleby exceeded quarterly earnings and revenue expectations, reporting $2.35 in EPS and $875.55 million in revenue, although revenue declined 10.5% year over year.

Middleby (NASDAQ:MIDD - Get Free Report) was upgraded by JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a report released on Tuesday, Briefing.com reports. The firm presently has a $147.00 target price on the industrial products company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 33.98% from the company's current price.

Other analysts have also recently issued research reports about the stock. Barclays reaffirmed an "overweight" rating and set a $145.00 price target (down from $155.00) on shares of Middleby in a research report on Thursday, August 13th. Jefferies Financial Group dropped their price objective on Middleby from $200.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. Seaport Research Partners set a $145.00 target price on Middleby in a research report on Wednesday, August 12th. Zacks Research cut Middleby from a "hold" rating to a "strong sell" rating in a research note on Friday, August 14th. Finally, Canaccord Genuity Group set a $160.00 target price on Middleby and gave the stock a "buy" rating in a report on Tuesday, September 1st. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Middleby presently has an average rating of "Hold" and a consensus target price of $159.50.

Middleby Stock Up 1.3%

Shares of NASDAQ:MIDD opened at $109.72 on Tuesday. The firm has a market cap of $4.96 billion, a P/E ratio of -11.85 and a beta of 1.31. Middleby has a 12-month low of $104.24 and a 12-month high of $180.13. The business has a fifty day simple moving average of $123.49 and a 200 day simple moving average of $141.25. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The industrial products company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.09 by $0.26. Middleby had a positive return on equity of 17.44% and a negative net margin of 13.22%.The company had revenue of $875.55 million for the quarter, compared to analyst estimates of $836.99 million. During the same period in the previous year, the firm earned $2.35 earnings per share. The firm's quarterly 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. Analysts predict that Middleby will post 6.85 earnings per share for the current year.

Hedge Funds Weigh In On Middleby

Hedge funds have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC raised its stake in shares of Middleby by 201.8% in the fourth quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company's stock valued at $25,000 after buying an additional 111 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Middleby in the 2nd quarter worth about $27,000. Larson Financial Group LLC increased its holdings in Middleby by 1,292.9% in the 4th quarter. Larson Financial Group LLC now owns 195 shares of the industrial products company's stock worth $29,000 after acquiring an additional 181 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in Middleby by 553.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 170 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 144 shares during the period. Finally, Root Financial Partners LLC raised its stake in Middleby by 64.2% in the 1st quarter. Root Financial Partners LLC now owns 261 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 98.55% of the company's stock.

About Middleby

Middleby Corporation is a global manufacturer of commercial foodservice, residential kitchen, and food processing equipment. Its products are used by restaurants, hotels, institutional kitchens, food retailers, and food manufacturers around the world.

The company's commercial foodservice portfolio includes cooking, baking, frying, refrigeration, ventilation, beverage, and food preparation equipment. Its residential brands offer cooking appliances, refrigeration, outdoor kitchen products, and related specialty equipment.

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