Canaccord Genuity Group Cuts Middleby (NASDAQ:MIDD) Price Target to $171.00

Middleby (NASDAQ:MIDD) had its target price trimmed by Canaccord Genuity Group from $175.00 to $171.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other analysts have also issued reports on MIDD. Barclays reiterated an “overweight” rating and set a $180.00 target price (up previously from $165.00) on shares of Middleby in a report on Monday, October 20th. Zacks Research upgraded Middleby from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. Wall Street Zen downgraded Middleby from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Weiss Ratings restated a “hold (c)” rating on shares of Middleby in a report on Wednesday, October 8th. Finally, Wolfe Research set a $163.00 price target on shares of Middleby and gave the company an “outperform” rating in a research note on Thursday, September 4th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.29.

Middleby Stock Performance

Shares of MIDD stock opened at $123.20 on Friday. Middleby has a 12 month low of $114.57 and a 12 month high of $182.73. The company’s fifty day simple moving average is $133.20 and its 200-day simple moving average is $138.86. The firm has a market cap of $6.24 billion, a PE ratio of 15.67 and a beta of 1.57. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.64.

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

Hedge Funds Weigh In On Middleby

Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas grew its stake in Middleby by 30.3% in the 1st quarter. Teacher Retirement System of Texas now owns 13,380 shares of the industrial products company’s stock valued at $2,033,000 after buying an additional 3,111 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Middleby by 0.3% during the first quarter. Principal Financial Group Inc. now owns 123,761 shares of the industrial products company’s stock worth $18,809,000 after acquiring an additional 402 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Middleby by 21.0% in the first quarter. Envestnet Asset Management Inc. now owns 125,752 shares of the industrial products company’s stock valued at $19,112,000 after purchasing an additional 21,786 shares during the last quarter. State of Michigan Retirement System grew its position in shares of Middleby by 1.6% in 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 purchasing an additional 200 shares during the last quarter. Finally, Xponance Inc. increased its stake in shares of 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.

Middleby Company Profile

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.