JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Middleby (NASDAQ:MIDD) Stock

by · The Cerbat Gem

Middleby (NASDAQ:MIDD – Get Free Report) had its target price upped by JPMorgan Chase & Co. from $125.00 to $140.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 9.68% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Canaccord Genuity Group raised their price target on shares of Middleby from $171.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Wall Street Zen upgraded shares of Middleby from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Barclays set a $168.00 target price on Middleby and gave the company an “overweight” rating in a report on Tuesday, November 11th. Zacks Research upgraded shares of Middleby from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Middleby in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.83.

Get Our Latest Report on MIDD

Middleby Trading Up 0.0%

Middleby stock traded up $0.01 during trading hours on Wednesday, reaching $155.01. 358,432 shares of the company’s stock were exchanged, compared to its average volume of 594,641. The firm has a market capitalization of $7.81 billion, a PE ratio of -35.22 and a beta of 1.39. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.69. The firm’s 50 day simple moving average is $135.17 and its 200 day simple moving average is $136.43. Middleby has a twelve month low of $110.82 and a twelve month high of $182.73.

Middleby (NASDAQ:MIDD – Get Free Report) last announced its earnings results on Thursday, November 6th. The industrial products company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.03 by $0.34. The company had revenue of $982.13 million for the quarter, compared to analyst estimates of $961.21 million. Middleby had a positive return on equity of 14.66% and a negative net margin of 5.22%.The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.33 EPS. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS and its Q4 2025 guidance at 2.190-2.340 EPS. Research analysts predict that Middleby will post 9.11 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert A. Nerbonne purchased 780 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was acquired at an average price of $128.52 per share, with a total value of $100,245.60. Following the transaction, the director directly owned 21,471 shares of the company’s stock, valued at approximately $2,759,452.92. This represents a 3.77% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MIDD. Danske Bank A S purchased a new position in Middleby during the third quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Middleby in the second quarter worth about $30,000. Allworth Financial LP increased its stake in shares of Middleby by 168.8% during the second quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 130 shares in the last quarter. TFC Financial Management Inc. boosted its position in shares of Middleby by 23,000.0% in the 3rd quarter. TFC Financial Management Inc. now owns 231 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 230 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in Middleby by 135.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 245 shares of the industrial products company’s stock valued at $33,000 after buying an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Company Profile

(Get Free Report)

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.

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