Middleby (NASDAQ:MIDD) Shares Break Above Two Hundred Day Moving Average – Here’s What Happened
by Mitch Edgeman · The Markets DailyShares of The Middleby Corporation (NASDAQ:MIDD – Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $137.09 and traded as high as $141.43. Middleby shares last traded at $138.00, with a volume of 1,143,228 shares trading hands.
Wall Street Analyst Weigh In
MIDD has been the topic of several recent research reports. KeyCorp set a $152.00 price target on Middleby in a research report on Tuesday, July 14th. Seaport Research Partners set a $145.00 price objective on Middleby in a report on Wednesday, August 12th. Weiss Ratings lowered Middleby from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. increased their target price on Middleby from $145.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. Finally, Zacks Research upgraded Middleby from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued 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 $161.75.
Middleby Price Performance
The company’s fifty day moving average price is $112.92 and its two-hundred day moving average price is $136.98. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 160.12 and a beta of 1.29. The company has a quick ratio of 1.07, a current ratio of 2.00 and a debt-to-equity ratio of 1.28.
Middleby (NASDAQ:MIDD – Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.32. Middleby had a return on equity of 19.42% and a net margin of 1.24%. The firm had revenue of $652.58 million for the quarter, compared to the consensus estimate of $634.04 million. During the same quarter last year, the business posted $2.37 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Middleby has set its Q4 2026 guidance at 1.760-1.920 EPS and its FY 2026 guidance at 7.130-7.290 EPS. On average, equities research analysts forecast that The Middleby Corporation will post 7.22 EPS for the current fiscal year.
Institutional Investors Weigh In On Middleby
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Middleby during the 2nd quarter worth about $27,000. Elevation Wealth Partners LLC increased its position in shares of Middleby by 553.8% in the second quarter. Elevation Wealth Partners LLC now owns 170 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 144 shares during the last quarter. Allworth Financial LP bought a new stake in Middleby during the second quarter worth about $37,000. Integrated Wealth Concepts LLC bought a new stake in Middleby during the second quarter worth about $55,000. Finally, Global Retirement Partners LLC bought a new stake in Middleby during the second quarter worth about $62,000. 98.55% of the stock is owned by institutional investors.
About Middleby
Middleby Corporation develops and manufactures equipment for commercial kitchens, food-processing operations and residential kitchens. Its commercial foodservice products include ovens, ranges, fryers, refrigeration systems and food-preparation equipment used by restaurants and other foodservice operators. The company also supplies industrial equipment to food manufacturers, including systems for cooking, mixing, forming and packaging food products. Its residential kitchen business offers premium appliances such as ranges, ovens, refrigerators and outdoor cooking products.