Middleby (NASDAQ:MIDD) Price Target Raised to $175.00 at Canaccord Genuity Group

Middleby (NASDAQ:MIDD) had its price target lifted by investment analysts at Canaccord Genuity Group from $171.00 to $175.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 38.92% from the company’s previous close.

A number of other analysts have also commented on MIDD. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Middleby in a research note on Monday. KeyCorp reiterated an “overweight” rating on shares of Middleby in a research note on Friday. JPMorgan Chase & Co. upgraded Middleby from an “underweight” rating to a “neutral” rating and lowered their price target for the company from $140.00 to $125.00 in a report on Friday, November 7th. Barclays set a $168.00 target price on shares of Middleby and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Finally, Zacks Research raised shares of Middleby from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Middleby currently has an average rating of “Hold” and a consensus target price of $161.14.

Middleby Price Performance

Middleby stock traded up $0.12 during mid-day trading on Friday, reaching $125.98. The company had a trading volume of 317,268 shares, compared to its average volume of 849,784. The stock’s 50-day simple moving average is $126.22 and its 200-day simple moving average is $136.13. The company has a market capitalization of $6.35 billion, a P/E ratio of -28.63 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.07 and a quick ratio of 1.10. Middleby has a 1 year low of $110.82 and a 1 year high of $182.73.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.34. Middleby had a positive return on equity of 14.66% and a negative net margin of 5.22%.The firm had revenue of $982.13 million during the quarter, compared to analysts’ expectations of $961.21 million. During the same period in the previous year, the firm posted $2.33 earnings per share. Middleby’s revenue was up 4.2% on a year-over-year basis. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS and its Q4 2025 guidance at 2.190-2.340 EPS. On average, equities analysts predict that Middleby will post 9.11 EPS for the current year.

Hedge Funds Weigh In On Middleby

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Danske Bank A S acquired a new position in shares of Middleby during the third quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Middleby during the second quarter valued at about $30,000. Allworth Financial LP increased its position in shares of Middleby by 168.8% during the second quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 130 shares during the last quarter. TFC Financial Management Inc. lifted its stake in shares of Middleby by 23,000.0% in the third quarter. TFC Financial Management Inc. now owns 231 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 230 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Middleby by 135.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 245 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 141 shares in the last quarter. Hedge funds and other institutional investors 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.