Wall Street Zen Upgrades Middleby (NASDAQ:MIDD) to Buy

Middleby (NASDAQ:MIDD) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Monday.

Several other brokerages also recently issued reports on MIDD. JPMorgan Chase & Co. cut their price objective on shares of Middleby from $185.00 to $151.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Canaccord Genuity Group set a $200.00 price target on Middleby in a research note on Friday, May 8th. Barclays reiterated an “overweight” rating and set a $190.00 price objective (up from $168.00) on shares of Middleby in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Middleby in a research report on Friday, May 1st. Finally, Jefferies Financial Group dropped their price objective on shares of Middleby from $200.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.88.

Middleby Stock Performance

Shares of NASDAQ MIDD opened at $131.11 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $5.93 billion, a P/E ratio of -15.46 and a beta of 1.33. Middleby has a 12 month low of $110.82 and a 12 month high of $180.13. The stock has a 50 day moving average of $153.92 and a 200-day moving average of $150.76.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Thursday, May 7th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.22. The business had revenue of $839.91 million during the quarter, compared to the consensus estimate of $777.19 million. Middleby had a positive return on equity of 15.94% and a negative net margin of 11.46%.The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. As a group, equities research analysts predict that Middleby will post 9.54 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MIDD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Middleby by 90.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 205 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Middleby by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 157,149 shares of the industrial products company’s stock worth $23,884,000 after purchasing an additional 9,936 shares in the last quarter. Focus Partners Wealth lifted its stake in Middleby by 344.7% in the 1st quarter. Focus Partners Wealth now owns 2,228 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 1,727 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Middleby by 280.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 241 shares during the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in Middleby in the second quarter valued at approximately $202,000. Institutional investors own 98.55% of the company’s stock.

About Middleby

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid‐cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.