Middleby (NASDAQ:MIDD) Price Target Raised to $175.00

Middleby (NASDAQ:MIDD) had its price target hoisted by Canaccord Genuity Group from $171.00 to $175.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

MIDD has been the topic of a number of other research reports. KeyCorp reiterated an “overweight” rating on shares of Middleby in a research report on Friday. Barclays set a $168.00 price objective on shares of Middleby and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. upgraded shares of Middleby from an “underweight” rating to a “neutral” rating and dropped their target price for the company from $140.00 to $125.00 in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Middleby in a research note on Monday, December 1st. Finally, Wolfe Research set a $163.00 price target on shares of Middleby and gave the company an “outperform” rating in a research note on Thursday, September 4th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $161.14.

Middleby Trading Up 0.3%

MIDD stock opened at $126.27 on Friday. Middleby has a 52-week low of $110.82 and a 52-week high of $182.73. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.69. The firm has a market cap of $6.36 billion, a P/E ratio of -28.70 and a beta of 1.39. The company’s 50-day simple moving average is $126.09 and its 200-day simple moving average is $135.78.

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

Institutional Investors Weigh In On Middleby

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Clarkston Capital Partners LLC lifted its position in Middleby by 0.6% in the second quarter. Clarkston Capital Partners LLC now owns 692,764 shares of the industrial products company’s stock valued at $99,758,000 after acquiring an additional 4,204 shares during the last quarter. Bryce Point Capital LLC acquired a new stake in shares of Middleby during the second quarter worth about $883,000. Vestor Capital LLC lifted its holdings in shares of Middleby by 268.0% in the 2nd quarter. Vestor Capital LLC now owns 3,680 shares of the industrial products company’s stock valued at $530,000 after purchasing an additional 2,680 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Middleby in the 2nd quarter valued at about $893,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Middleby during the 2nd quarter worth approximately $478,000. 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.