What is Zacks Research's Forecast for Middleby Q3 Earnings?

Key Points

• Zacks Research raised its Q3 earnings estimate for Middleby to $2.05 per share from $2.04 and maintained a “Hold” rating. The consensus full-year estimate is $6.82 per share.
• Middleby’s latest quarterly results exceeded expectations, with EPS of $2.35 versus the $2.09 consensus and revenue of $875.55 million versus estimates of $836.99 million, although revenue declined 10.5% year over year.
• Analyst sentiment is mixed but leans positive: six analysts rate the stock a Buy, two rate it Hold and one rates it Sell, producing a “Moderate Buy” consensus rating and a $159.25 average price target.

The Middleby Corporation (NASDAQ:MIDD - Free Report) - Equities research analysts at Zacks Research upped their Q3 2028 earnings per share estimates for Middleby in a report released on Tuesday, October 27th. Zacks Research analyst Team now expects that the industrial products company will post earnings of $2.05 per share for the quarter, up from their prior estimate of $2.04. Zacks Research has a "Hold" rating on the stock. The consensus estimate for Middleby's current full-year earnings is $6.82 per share.

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

Several other research analysts have also issued reports on the company. Oppenheimer reiterated an "outperform" rating and set a $160.00 price objective (down from $205.00) on shares of Middleby in a research note on Wednesday, August 12th. Royal Bank Of Canada set a $147.00 target price on shares of Middleby in a research note on Tuesday, September 15th. Wall Street Zen lowered shares of Middleby from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Seaport Research Partners set a $145.00 target price on shares of Middleby in a research report on Wednesday, August 12th. Finally, Robert W. Baird cut shares of Middleby from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $159.25.

Middleby Price Performance

Shares of MIDD stock opened at $114.04 on Thursday. The stock's fifty day simple moving average is $109.81 and its 200 day simple moving average is $138.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.99 and a quick ratio of 1.10. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of -12.32 and a beta of 1.32. Middleby has a one year low of $102.14 and a one year high of $180.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Middleby during the 2nd quarter valued at about $27,000. Elevation Wealth Partners LLC boosted its stake in shares of Middleby by 553.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 170 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 144 shares during the last quarter. Allworth Financial LP bought a new position in shares of Middleby in the 2nd quarter valued at about $37,000. Root Financial Partners LLC grew its position in shares of Middleby by 64.2% during the 1st quarter. Root Financial Partners LLC now owns 261 shares of the industrial products company's stock worth $35,000 after buying an additional 102 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Middleby during the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 98.55% of the company's stock.

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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