Middleby Stock Gets Higher EPS Forecast from Zacks Research

Key Points

• Zacks Research raised Middleby’s FY2028 EPS forecast to $8.07 from $8.05, while maintaining a “Hold” rating. The current full-year consensus EPS estimate is $6.82.
• Analyst sentiment remains mixed but leans positive: six analysts rate Middleby a Buy, two rate it Hold, and one rates it Sell, producing a “Moderate Buy” consensus rating and a $159.25 average price target.
• Middleby shares opened at $115, up 0.5%, with the stock well below its 52-week high of $180.13. Institutional investors own approximately 98.55% of the company.

The Middleby Corporation (NASDAQ:MIDD - Free Report) - Research analysts at Zacks Research lifted their FY2028 earnings per share estimates for shares of Middleby in a note issued to investors on Tuesday, October 27th. Zacks Research analyst Team now forecasts that the industrial products company will post earnings per share of $8.07 for the year, up from their prior estimate of $8.05. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Middleby's current full-year earnings is $6.82 per share.

A number of other equities analysts have also recently weighed in on MIDD. Robert W. Baird cut Middleby from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 8th. Royal Bank Of Canada set a $147.00 price target on shares of Middleby in a research report on Tuesday, September 15th. Weiss Ratings cut shares of Middleby from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. decreased their target price on shares of Middleby from $147.00 to $145.00 and set an "overweight" rating on the stock in a research report on Thursday, October 8th. Finally, Seaport Research Partners set a $145.00 price target on shares of Middleby in a research report on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.25.

Middleby Stock Up 0.5%

MIDD opened at $115.00 on Wednesday. The business's fifty day simple moving average is $109.81 and its 200 day simple moving average is $138.31. Middleby has a 52 week low of $102.14 and a 52 week high of $180.13. The stock has a market cap of $5.20 billion, a PE ratio of -12.42 and a beta of 1.32.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its earnings results on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.26. The company had revenue of $875.55 million for the quarter, compared to the consensus estimate of $836.99 million. The company'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 firm earned $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 Trading of Middleby

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Middleby during the second quarter valued at about $676,035,000. Bank of America Corp DE purchased a new stake in shares of Middleby in the second quarter worth about $138,803,000. Bank of New York Mellon Corp bought a new position in Middleby during the second quarter valued at approximately $69,002,000. Cooke & Bieler LP boosted its stake in Middleby by 47.6% during the third quarter. Cooke & Bieler LP now owns 932,553 shares of the industrial products company's stock valued at $96,594,000 after buying an additional 300,557 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Middleby by 1,572.9% during the 1st quarter. Renaissance Technologies LLC now owns 205,270 shares of the industrial products company's stock valued at $27,215,000 after buying an additional 193,000 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors.

About Middleby

The Middleby Corporation NASDAQ: MIDD designs, manufactures and sells commercial, residential and food processing equipment. Its commercial foodservice products include conveyor, deck, combi and convection ovens; ranges, fryers, steam-cooking equipment, refrigeration systems, ventilation products and kitchen automation technologies. These products are used by restaurants, hotels, institutional kitchens, convenience stores, supermarkets and other foodservice operators.

Middleby also offers equipment and appliances for residential kitchens, including cooking products, refrigeration, ventilation and outdoor cooking systems.

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