Middleby (NASDAQ:MIDD) Stock Price Target Cut by JPMorgan Chase & Co.

Key Points

• JPMorgan cut Middleby’s price target from $147 to $145 while maintaining an “overweight” rating, implying approximately 37.6% upside from the prior close.
• Analyst sentiment is mixed: six analysts rate the stock a Buy, one a Hold and two a Sell, resulting in a consensus “Hold” rating and average target price of $159.25.
• Middleby shares rose 0.2% to $105.40, near their 12-month low, despite the company exceeding quarterly EPS and revenue expectations; institutional investors own 98.55% of outstanding shares.

Middleby (NASDAQ:MIDD - Get Free Report) had its price target decreased by JPMorgan Chase & Co. from $147.00 to $145.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 37.57% from the company's previous close.

Several other equities analysts have also recently issued reports on the stock. Zacks Research cut shares of Middleby from a "hold" rating to a "strong sell" rating in a research note on Friday, August 14th. Wall Street Zen lowered 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 objective on shares of Middleby in a report on Wednesday, August 12th. Barclays restated an "overweight" rating and set a $145.00 price objective (down from $155.00) on shares of Middleby in a research report on Thursday, August 13th. Finally, Canaccord Genuity Group set a $160.00 target price on shares of 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 issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Middleby currently has a consensus rating of "Hold" and an average target price of $159.25.

Middleby Stock Up 0.2%

MIDD traded up $0.16 during trading on Thursday, hitting $105.40. 567,023 shares of the company's stock traded hands, compared to its average volume of 623,960. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of -11.38 and a beta of 1.32. The company's 50 day simple moving average is $114.71 and its two-hundred day simple moving average is $135.94. Middleby has a 12-month low of $102.14 and a 12-month high of $180.13. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.88.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $875.55 million for the quarter, compared to the consensus estimate of $836.99 million. During the same period in the prior year, the company posted $2.35 earnings per share. The company'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 6.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Middleby

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Middleby in the second quarter worth approximately $27,000. Elevation Wealth Partners LLC grew its position in Middleby by 553.8% during the second quarter. Elevation Wealth Partners LLC now owns 170 shares of the industrial products company's stock valued at $29,000 after buying an additional 144 shares during the period. Allworth Financial LP purchased a new stake in Middleby during the second quarter valued at approximately $37,000. Root Financial Partners LLC increased its holdings in Middleby by 64.2% during the first quarter. Root Financial Partners LLC now owns 261 shares of the industrial products company's stock valued at $35,000 after buying an additional 102 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Middleby in the second quarter worth approximately $55,000. Hedge funds and other 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.

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