Middleby (NASDAQ:MIDD) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Middleby from “strong sell” to “hold,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $159.25.
• Middleby’s latest quarterly results exceeded expectations, with EPS of $2.35 versus the $2.09 estimate and revenue of $875.55 million; however, revenue declined 10.5% year over year.
• The stock opened at $106.46, near its 52-week low of $102.14 and below its 50-day and 200-day moving averages, while institutional investors own approximately 98.55% of shares.

Middleby (NASDAQ:MIDD - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday, Zacks reports.

Other analysts have also recently issued research reports about the stock. Robert W. Baird cut shares of Middleby from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 8th. KeyCorp set a $152.00 target price on Middleby in a research note on Tuesday, July 14th. Weiss Ratings cut Middleby from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 18th. 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. Finally, Royal Bank Of Canada set a $147.00 target price on Middleby in a research report on Tuesday, September 15th. Six investment 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.25.

Middleby Stock Performance

Middleby stock opened at $106.46 on Monday. The company has a market cap of $4.81 billion, a PE ratio of -11.50 and a beta of 1.32. 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 has a 1 year low of $102.14 and a 1 year high of $180.13. The company's 50-day moving average is $112.34 and its two-hundred day moving average is $135.07.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $2.35 EPS for the quarter, topping 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 company had revenue of $875.55 million during the quarter, compared to analysts' expectations of $836.99 million. During the same quarter in the previous year, the company earned $2.35 EPS. Middleby's 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. Equities analysts anticipate that Middleby will post 6.84 earnings per share for the current year.

Institutional Investors Weigh In On Middleby

A number of hedge funds have recently modified their holdings of MIDD. Krilogy Financial LLC bought a new position in shares of Middleby during the 3rd quarter valued at about $201,000. NorthCrest Asset Manangement LLC acquired a new position in shares of Middleby in the 3rd quarter valued at approximately $488,000. Farther Finance Advisors LLC increased its stake in Middleby by 487.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 458 shares of the industrial products company's stock worth $47,000 after purchasing an additional 380 shares in the last quarter. Elevation Wealth Partners LLC increased its stake in Middleby by 182.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 480 shares of the industrial products company's stock worth $50,000 after purchasing an additional 310 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Middleby by 54.7% during the 3rd quarter. Versant Capital Management Inc now owns 2,686 shares of the industrial products company's stock worth $278,000 after buying an additional 950 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.