Zacks Research Has Bullish Estimate for Middleby Q2 Earnings

Key Points

• Zacks Research has raised its Q2 2026 EPS estimate for Middleby to $2.29 per share, up from $2.27, while maintaining a "Strong Sell" rating on the stock.
• Middleby reported Q2 earnings of $2.35 per share, exceeding analyst expectations, but revenue declined by 1.4% year-over-year to $977.86 million.
• Several analysts have adjusted their price targets, with Barclays lowering theirs to $165.00, while Canaccord Genuity increased theirs to $175.00, reflecting mixed sentiments on the stock's performance.

The Middleby Corporation (NASDAQ:MIDD - Free Report) - Stock analysts at Zacks Research raised their Q2 2026 EPS estimates for Middleby in a research report issued to clients and investors on Monday, September 29th. Zacks Research analyst Team now expects that the industrial products company will post earnings of $2.29 per share for the quarter, up from their prior forecast of $2.27. Zacks Research has a "Strong Sell" rating on the stock. The consensus estimate for Middleby's current full-year earnings is $9.11 per share. Zacks Research also issued estimates for Middleby's Q3 2026 earnings at $2.02 EPS and FY2026 earnings at $9.06 EPS.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.15. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The business had revenue of $977.86 million for the quarter, compared to the consensus estimate of $979.59 million. During the same period last year, the business posted $2.39 EPS. The business's revenue was down 1.4% compared to the same quarter last year.

A number of other research analysts also recently issued reports on MIDD. Barclays cut their price objective on shares of Middleby from $180.00 to $165.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Canaccord Genuity Group upped their price target on Middleby from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. decreased their price objective on Middleby from $145.00 to $125.00 and set an "underweight" rating for the company in a report on Thursday, August 7th. Wall Street Zen downgraded Middleby from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Wolfe Research set a $163.00 price target on Middleby and gave the company an "outperform" rating in a research note on Thursday, September 4th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $160.71.

Middleby Stock Performance

Shares of Middleby stock opened at $132.93 on Wednesday. The company has a market capitalization of $6.74 billion, a PE ratio of 16.91 and a beta of 1.54. The company has a 50-day simple moving average of $136.30 and a two-hundred day simple moving average of $140.93. Middleby has a one year low of $118.09 and a one year high of $182.73. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.56 and a current ratio of 2.57.

Institutional Trading of Middleby

A number of hedge funds and other institutional investors have recently made changes to their positions in MIDD. TCTC Holdings LLC lifted its position in Middleby by 116.7% during the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 91 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Middleby during the 2nd quarter valued at about $30,000. Allworth Financial LP lifted its holdings in shares of Middleby by 168.8% in the 2nd quarter. Allworth Financial LP now owns 207 shares of the industrial products company's stock valued at $30,000 after buying an additional 130 shares during the period. Versant Capital Management Inc boosted its stake in shares of Middleby by 760.0% in the first quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company's stock worth $39,000 after buying an additional 228 shares during the last quarter. Finally, AdvisorShares Investments LLC purchased a new position in Middleby during the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 98.55% of the company's stock.

About Middleby

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.

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