The Middleby Co. (NASDAQ:MIDD - Free Report) - Equities researchers at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for shares of Middleby in a research report issued to clients and investors on Thursday, November 21st. Zacks Research analyst R. Department now expects that the industrial products company will earn $9.17 per share for the year, down from their prior forecast of $9.65. The consensus estimate for Middleby's current full-year earnings is $9.12 per share. Zacks Research also issued estimates for Middleby's Q4 2024 earnings at $2.56 EPS, Q1 2025 earnings at $1.87 EPS, Q2 2025 earnings at $2.31 EPS, Q3 2025 earnings at $2.28 EPS, Q4 2025 earnings at $2.47 EPS, FY2025 earnings at $8.93 EPS, Q1 2026 earnings at $2.31 EPS, Q2 2026 earnings at $2.78 EPS, Q3 2026 earnings at $2.61 EPS and FY2026 earnings at $10.63 EPS.
Other research analysts have also issued research reports about the company. Robert W. Baird raised their price objective on Middleby from $155.00 to $169.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Canaccord Genuity Group cut their price objective on shares of Middleby from $164.00 to $155.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. StockNews.com raised shares of Middleby from a "hold" rating to a "buy" rating in a report on Monday, November 4th. JPMorgan Chase & Co. boosted their price objective on shares of Middleby from $118.00 to $120.00 and gave the stock an "underweight" rating in a report on Friday, August 2nd. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $164.00 target price on shares of Middleby in a research note on Saturday, September 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $154.67.
Read Our Latest Stock Analysis on Middleby
Middleby Stock Up 3.4 %
MIDD traded up $4.81 during midday trading on Monday, reaching $146.97. The company's stock had a trading volume of 995,015 shares, compared to its average volume of 508,546. Middleby has a 1 year low of $118.41 and a 1 year high of $161.01. The stock's 50-day moving average is $137.72 and its 200-day moving average is $133.32. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 20.05 and a beta of 1.58. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66.
Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.15). The firm had revenue of $942.81 million for the quarter, compared to analysts' expectations of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business's quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.35 EPS.
Institutional Investors Weigh In On Middleby
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in Middleby during the third quarter valued at $891,000. Virtu Financial LLC bought a new position in Middleby during the third quarter valued at approximately $639,000. Neo Ivy Capital Management purchased a new position in Middleby during the 3rd quarter valued at approximately $88,000. Geode Capital Management LLC raised its holdings in shares of Middleby by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 936,596 shares of the industrial products company's stock worth $130,341,000 after acquiring an additional 8,926 shares in the last quarter. Finally, MidWestOne Financial Group Inc. purchased a new position in shares of Middleby in the third quarter valued at $200,000. 98.55% of the stock is owned by hedge funds and other institutional investors.
Middleby Company Profile
(
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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.
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