Middleby (NASDAQ:MIDD) Given New $171.00 Price Target at Canaccord Genuity Group

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

Other analysts also recently issued reports about the stock. Zacks Research upgraded shares of Middleby from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Wall Street Zen cut Middleby from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. JPMorgan Chase & Co. upgraded Middleby from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $140.00 to $125.00 in a research report on Friday. Barclays restated an “overweight” rating and issued a $180.00 target price (up from $165.00) on shares of Middleby in a research report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Middleby in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.29.

Middleby Stock Performance

Shares of NASDAQ MIDD traded up $3.14 during mid-day trading on Friday, hitting $123.20. The company had a trading volume of 1,066,614 shares, compared to its average volume of 860,207. Middleby has a 12 month low of $114.57 and a 12 month high of $182.73. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 15.67 and a beta of 1.57. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.56. The firm’s 50 day simple moving average is $133.20 and its two-hundred day simple moving average is $138.71.

Middleby (NASDAQ:MIDD) last issued its earnings results on Thursday, November 6th. The industrial products company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.34. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The firm had revenue of $982.13 million for the quarter, compared to analyst estimates of $961.21 million. During the same period last year, the company earned $2.33 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS. Q4 2025 guidance at 2.190-2.340 EPS. As a group, equities research analysts forecast that Middleby will post 9.11 earnings per share for the current year.

Institutional Investors Weigh In On Middleby

A number of institutional investors and hedge funds have recently bought and sold shares of MIDD. Teacher Retirement System of Texas raised its holdings in shares of Middleby by 30.3% during the first quarter. Teacher Retirement System of Texas now owns 13,380 shares of the industrial products company’s stock valued at $2,033,000 after acquiring an additional 3,111 shares during the period. Principal Financial Group Inc. grew its stake in shares of Middleby by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 123,761 shares of the industrial products company’s stock valued at $18,809,000 after buying an additional 402 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Middleby by 21.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 125,752 shares of the industrial products company’s stock worth $19,112,000 after purchasing an additional 21,786 shares during the last quarter. State of Michigan Retirement System raised its holdings in Middleby by 1.6% during the first quarter. State of Michigan Retirement System now owns 12,920 shares of the industrial products company’s stock valued at $1,964,000 after buying an additional 200 shares in the last quarter. Finally, Xponance Inc. boosted its position in Middleby by 1.6% during the first quarter. Xponance Inc. now owns 6,223 shares of the industrial products company’s stock worth $946,000 after purchasing an additional 99 shares during the period. 98.55% of the stock is owned by institutional investors and hedge funds.

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.