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

Key Points

• JPMorgan raised Middleby’s price target to $165 from $145 and maintained an “overweight” rating, implying 20.88% upside from the prior close.
• Analyst sentiment is moderately positive: Middleby has a consensus “Moderate Buy” rating and an average price target of $161.75.
• Middleby beat quarterly estimates, reporting EPS of $2.07 versus $1.75 expected and revenue of $652.58 million versus $634.04 million expected; revenue rose 7.7% year over year.

Middleby (NASDAQ:MIDD - Get Free Report) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $145.00 to $165.00 in a report released on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 20.88% from the stock's previous close.

A number of other research firms have also recently weighed in on MIDD. Barclays restated an "overweight" rating and issued a $145.00 price target (down from $155.00) on shares of Middleby in a report on Thursday, August 13th. Canaccord Genuity Group lifted their price objective on Middleby from $152.00 to $160.00 and gave the stock a "buy" rating in a report on Friday. KeyCorp set a $152.00 target price on Middleby in a research report on Tuesday, July 14th. Zacks Research raised Middleby from a "strong sell" rating to a "hold" rating in a report on Monday, October 12th. Finally, Royal Bank Of Canada set a $147.00 price target on Middleby in a research report on Tuesday, September 15th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $161.75.

Middleby Stock Performance

Shares of MIDD stock opened at $136.50 on Friday. 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 has a 12-month low of $102.14 and a 12-month high of $180.13. The stock has a 50 day simple moving average of $111.38 and a 200-day simple moving average of $137.15. The company has a current ratio of 2.00, a quick ratio of 1.07 and a debt-to-equity ratio of 1.28.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $634.04 million. During the same quarter last year, the firm posted $2.37 EPS. The business's revenue was up 7.7% compared to the same quarter last year. Middleby has set its Q4 2026 guidance at 1.760-1.920 EPS and its FY 2026 guidance at 7.130-7.290 EPS. On average, equities analysts forecast that Middleby will post 7.21 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in Middleby during the second quarter worth approximately $2,125,000. The Manufacturers Life Insurance Company raised its stake in Middleby by 14.3% during the first quarter. The Manufacturers Life Insurance Company now owns 67,926 shares of the industrial products company's stock worth $9,006,000 after purchasing an additional 8,524 shares during the period. Sei Investments Co. boosted its holdings in shares of Middleby by 6.5% in the 1st quarter. Sei Investments Co. now owns 803,383 shares of the industrial products company's stock valued at $106,514,000 after purchasing an additional 49,228 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Middleby in the 2nd quarter valued at $9,588,000. Finally, Medina Value Partners LLC purchased a new stake in shares of Middleby during the 2nd quarter valued at $24,077,272. 98.55% of the stock is currently 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.

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