JPMorgan Chase & Co. Cuts Middleby (NASDAQ:MIDD) Price Target to $141.00

Middleby (NASDAQ:MIDD) had its price objective reduced by JPMorgan Chase & Co. from $151.00 to $141.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other research firms have also recently issued reports on MIDD. Barclays set a $155.00 price objective on shares of Middleby and gave the company an “overweight” rating in a research report on Monday, July 20th. Robert W. Baird lowered shares of Middleby from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Canaccord Genuity Group set a $157.00 price objective on shares of Middleby and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $160.00 target price (down from $205.00) on shares of Middleby in a research note on Wednesday. Finally, KeyCorp set a $152.00 target price on Middleby in a research note on Tuesday, July 14th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Middleby has an average rating of “Moderate Buy” and a consensus price target of $160.38.

Middleby Stock Up 0.8%

Middleby stock opened at $117.91 on Wednesday. The stock has a market cap of $5.33 billion, a PE ratio of -12.73 and a beta of 1.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.10 and a current ratio of 1.99. The firm’s 50-day simple moving average is $146.85 and its 200 day simple moving average is $148.10. Middleby has a fifty-two week low of $110.82 and a fifty-two week high of $180.13.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Tuesday, August 11th. The industrial products company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.09 by $0.26. The business had revenue of $875.55 million for the quarter, compared to analyst estimates of $836.99 million. Middleby had a negative net margin of 13.22% and a positive return on equity of 17.44%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.35 earnings per share. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. Research analysts predict that Middleby will post 6.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Middleby

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MIDD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Middleby by 90.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 205 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Middleby by 6.7% in the 1st 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 purchasing an additional 9,936 shares in the last quarter. Focus Partners Wealth boosted its stake in Middleby by 344.7% in the 1st quarter. Focus Partners Wealth now owns 2,228 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 1,727 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Middleby by 280.2% in the 2nd 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 period. Finally, Cresset Asset Management LLC purchased a new stake in Middleby during the 2nd quarter valued at approximately $202,000. 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.