Middleby (NASDAQ:MIDD) Shares Down 6.3% on Analyst Downgrade

The Middleby Corporation (NASDAQ:MIDD) shares fell 6.3% during trading on Wednesday after Jefferies Financial Group lowered their price target on the stock from $200.00 to $160.00. Jefferies Financial Group currently has a buy rating on the stock. Middleby traded as low as $132.63 and last traded at $130.4650. 35,765 shares were traded during trading, a decline of 94% from the average session volume of 633,919 shares. The stock had previously closed at $139.26.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their target price on Middleby from $150.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Canaccord Genuity Group set a $200.00 price target on Middleby in a report on Friday, May 8th. Wall Street Zen upgraded shares of Middleby from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. Oppenheimer started coverage on shares of Middleby in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $205.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Middleby in a research note on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.25.

Institutional Investors Weigh In On Middleby

Large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Middleby by 90.3% during 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 acquiring an additional 205 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Middleby by 6.7% in the first 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 acquiring an additional 9,936 shares during the period. Focus Partners Wealth increased its stake in shares of Middleby by 344.7% in the first quarter. Focus Partners Wealth now owns 2,228 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 1,727 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Middleby by 280.2% during the second quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 241 shares during the last quarter. Finally, Cresset Asset Management LLC acquired a new position in Middleby during the second quarter valued at $202,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.96 and a quick ratio of 1.10. The company has a market capitalization of $5.94 billion, a PE ratio of -15.54 and a beta of 1.33. The firm’s fifty day simple moving average is $156.70 and its 200 day simple moving average is $151.92.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Thursday, May 7th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.22. The business had revenue of $839.91 million during the quarter, compared to analyst estimates 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 revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business 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. On average, research analysts predict that The Middleby Corporation will post 9.58 EPS for the current year.

Middleby Company Profile

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.