Middleby Stock Gets Higher EPS Forecast from Zacks Research

Key Points

• Zacks Research raised Middleby’s Q4 2027 EPS estimate to $1.95 from $1.93 and forecasts FY2028 EPS of $8.05. However, it maintains a “Strong Sell” rating on the stock.
• Middleby recently beat quarterly expectations, reporting $2.35 EPS versus the $2.09 consensus and revenue of $875.55 million, although revenue declined 10.5% year over year.
• Shares opened at $105.92, near their one-year low of $102.14 and well below the $180.13 high. Analysts’ consensus rating is “Hold,” with an average price target of $159.50.

The Middleby Corporation (NASDAQ:MIDD - Free Report) - Equities researchers at Zacks Research boosted their Q4 2027 earnings per share (EPS) estimates for Middleby in a research report issued to clients and investors on Monday, October 5th. Zacks Research analyst Team now forecasts that the industrial products company will post earnings per share of $1.95 for the quarter, up from their previous forecast of $1.93. Zacks Research currently has a "Strong Sell" rating on the stock. The consensus estimate for Middleby's current full-year earnings is $6.84 per share. Zacks Research also issued estimates for Middleby's Q2 2028 earnings at $2.04 EPS and FY2028 earnings at $8.05 EPS.

MIDD has been the subject of a number of other reports. Royal Bank Of Canada set a $147.00 price target on shares of Middleby in a research report on Tuesday, September 15th. Wall Street Zen downgraded shares of Middleby from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Robert W. Baird lowered shares of Middleby from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 8th. Barclays reiterated an "overweight" rating and issued a $145.00 target price (down from $155.00) on shares of Middleby in a research report on Thursday, August 13th. Finally, Weiss Ratings cut shares of Middleby from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 18th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $159.50.

Middleby Trading Up 0.8%

Shares of NASDAQ MIDD opened at $105.92 on Wednesday. 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 one year low of $102.14 and a one year high of $180.13. The business has a 50-day moving average price of $115.27 and a two-hundred day moving average price of $136.18. The firm has a market capitalization of $4.79 billion, a PE ratio of -11.44 and a beta of 1.32.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.26. The business had revenue of $875.55 million for the quarter, compared to the consensus estimate of $836.99 million. Middleby had a positive return on equity of 17.44% and a negative net margin of 13.22%.Middleby's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.35 earnings per share. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc lifted its stake in shares of Middleby by 54.7% in the 3rd quarter. Versant Capital Management Inc now owns 2,686 shares of the industrial products company's stock valued at $278,000 after purchasing an additional 950 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Middleby in the second quarter worth about $205,000. Tidal Investments LLC lifted its position in shares of Middleby by 131.3% during the 2nd quarter. Tidal Investments LLC now owns 9,489 shares of the industrial products company's stock worth $1,632,000 after purchasing an additional 5,386 shares during the last quarter. Engineers Gate Manager LP boosted its stake in Middleby by 514.9% during the 2nd quarter. Engineers Gate Manager LP now owns 10,699 shares of the industrial products company's stock valued at $1,840,000 after purchasing an additional 8,959 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in Middleby in the 2nd quarter worth approximately $55,000. Institutional investors own 98.55% of the company's stock.

Middleby News Roundup

Here are the key news stories impacting Middleby this week:

• Positive Sentiment: JPMorgan raised its price target to $147. The higher target indicates the bank sees meaningful upside from Middleby’s recent trading levels, potentially reflecting confidence in a longer-term recovery. JPMorgan raises target for Middleby stock to USD 147
• Positive Sentiment: Zacks Research increased several longer-term earnings forecasts. Its Q4 2027 EPS estimate rose to $1.95 from $1.93, its Q2 2028 estimate increased to $2.04 from $1.99, and its FY2028 forecast advanced to $8.05 from $7.99. These revisions suggest expectations for earnings growth beyond the current fiscal year. What is Zacks Research's Forecast for Middleby Q3 Earnings?
• Neutral Sentiment: The earnings revisions were relatively small. Zacks’ FY2028 increase was only $0.06 per share, while the current full-year consensus remains approximately $6.84-$6.85 EPS. Investors may view the changes as confirmation of stability rather than a major change in Middleby’s outlook.
• Negative Sentiment: Zacks lowered multiple near- and medium-term estimates while maintaining a “Strong Sell” rating. Forecasts were reduced for Q3 2026 to $1.73 EPS, FY2026 to $6.82, Q4 2026 to $1.80, Q3 2027 to $1.94, FY2027 to $7.43 and Q1 2028 to $1.89. The negative rating and cuts reinforce concerns about near-term earnings momentum.

About Middleby

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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