Zacks Research Forecasts Stronger Earnings for Middleby

The Middleby Co. (NASDAQ:MIDD) – Equities research analysts at Zacks Research lifted their FY2025 earnings per share estimates for Middleby in a research note issued on Thursday, January 30th. Zacks Research analyst R. Department now forecasts that the industrial products company will post earnings of $8.93 per share for the year, up from their prior forecast of $8.92. The consensus estimate for Middleby’s current full-year earnings is $9.12 per share.

Several other research firms also recently issued reports on MIDD. StockNews.com downgraded Middleby from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Robert W. Baird upped their price target on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. KeyCorp raised their price objective on shares of Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Canaccord Genuity Group upped their target price on shares of Middleby from $155.00 to $192.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. lifted their price target on Middleby from $134.00 to $145.00 and gave the stock an “underweight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $178.83.

Middleby Stock Performance

NASDAQ:MIDD opened at $169.54 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. Middleby has a 1-year low of $118.41 and a 1-year high of $177.90. The firm has a 50-day moving average of $143.91 and a two-hundred day moving average of $139.54. The stock has a market cap of $9.12 billion, a P/E ratio of 23.38 and a beta of 1.63.

Hedge Funds Weigh In On Middleby

Several institutional investors have recently modified their holdings of the company. Quarry LP lifted its stake in shares of Middleby by 133.3% in the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 132 shares during the period. Covestor Ltd boosted its stake in Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 190 shares in the last quarter. UMB Bank n.a. increased its position in shares of Middleby by 93.2% during the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 136 shares during the period. Avior Wealth Management LLC raised its stake in shares of Middleby by 820.0% in the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after buying an additional 287 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Middleby by 91.8% in the third quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock valued at $68,000 after buying an additional 234 shares during the period. 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.