JPMorgan Chase & Co. Boosts Middleby (NASDAQ:MIDD) Price Target to $140.00

Middleby (NASDAQ:MIDD) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $125.00 to $140.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 5.95% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Canaccord Genuity Group increased their price objective on shares of Middleby from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Zacks Research upgraded Middleby from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Wall Street Zen upgraded Middleby from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Barclays set a $168.00 price objective on Middleby and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Middleby in a research report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.83.

Middleby Price Performance

MIDD opened at $148.85 on Wednesday. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of -33.83 and a beta of 1.39. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. Middleby has a 12-month low of $110.82 and a 12-month high of $182.73. The business’s fifty day simple moving average is $136.36 and its 200-day simple moving average is $136.64.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data 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. Middleby had a negative net margin of 5.22% and a positive return on equity of 14.66%. The company had revenue of $982.13 million during the quarter, compared to analyst estimates of $961.21 million. During the same period in the prior year, the firm earned $2.33 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. 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 research analysts anticipate that Middleby will post 9.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Middleby news, Director Robert A. Nerbonne bought 780 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were purchased at an average cost of $128.52 per share, for a total transaction of $100,245.60. Following the purchase, the director directly owned 21,471 shares in the company, valued at $2,759,452.92. This represents a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Middleby

Large investors have recently modified their holdings of the business. Danske Bank A S purchased a new position in shares of Middleby in the 3rd quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Middleby during the 2nd quarter valued at approximately $30,000. Allworth Financial LP raised its holdings in shares of Middleby by 168.8% in the second quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock worth $30,000 after buying an additional 130 shares during the last quarter. TFC Financial Management Inc. lifted its stake in shares of Middleby by 23,000.0% during the third quarter. TFC Financial Management Inc. now owns 231 shares of the industrial products company’s stock worth $31,000 after buying an additional 230 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Middleby by 135.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 245 shares of the industrial products company’s stock valued at $33,000 after buying an additional 141 shares during the last quarter. Hedge funds and other 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.