Middleby (NASDAQ:MIDD) Sets New 52-Week Low - Here's Why

Key Points

• Middleby shares fell to a new 52-week low of $104.22, well below their 50-day moving average of $118.17 and 200-day moving average of $137.53.
• Analysts have a mixed view: six rate the stock Buy, one Hold, and two Sell, producing an overall “Hold” rating and an average price target of $159.50.
• Although Middleby beat quarterly earnings and revenue expectations, revenue declined 10.5% year over year and the company reported a negative net margin of 13.22%; institutional investors still own 98.55% of its shares.

The Middleby Corporation (NASDAQ:MIDD - Get Free Report) shares hit a new 52-week low on Wednesday. The stock traded as low as $104.22 and last traded at $104.9150, with a volume of 91231 shares. The stock had previously closed at $105.56.

Analyst Ratings Changes

MIDD has been the topic of several analyst reports. KeyCorp set a $152.00 price objective on Middleby in a research note on Tuesday, July 14th. Seaport Research Partners set a $145.00 price target on Middleby in a report on Wednesday, August 12th. Jefferies Financial Group decreased their price objective on Middleby from $200.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, July 8th. Barclays reissued 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, Royal Bank Of Canada set a $147.00 target price on shares of Middleby in a report on Tuesday, September 15th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Middleby has an average rating of "Hold" and an average target price of $159.50.

Middleby Price Performance

The stock's 50-day moving average is $118.17 and its 200 day moving average is $137.53. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.10 and a current ratio of 1.99. The stock has a market capitalization of $4.75 billion, a PE ratio of -11.34 and a beta of 1.31.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $875.55 million during the quarter, compared to analysts' expectations of $836.99 million. Middleby had a positive return on equity of 17.44% and a negative net margin of 13.22%.The firm's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business 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. As a group, equities analysts expect that The Middleby Corporation will post 6.85 earnings per share for the current year.

Institutional Investors Weigh In On Middleby

A number of hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC grew its stake 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 purchasing an additional 102 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Middleby by 201.8% in the fourth quarter. Clearstead Advisors LLC now owns 166 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 111 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in Middleby by 2.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 4,841 shares of the industrial products company's stock worth $642,000 after buying an additional 124 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Middleby by 13.8% during the second quarter. GAMMA Investing LLC now owns 1,094 shares of the industrial products company's stock worth $188,000 after buying an additional 133 shares in the last quarter. Finally, 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 worth $29,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 98.55% of the company's stock.

Middleby Company Profile

Middleby Corporation is a global manufacturer of commercial foodservice, residential kitchen, and food processing equipment. Its products are used by restaurants, hotels, institutional kitchens, food retailers, and food manufacturers around the world.

The company's commercial foodservice portfolio includes cooking, baking, frying, refrigeration, ventilation, beverage, and food preparation equipment. Its residential brands offer cooking appliances, refrigeration, outdoor kitchen products, and related specialty equipment.

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