Q4 2024 EPS Estimates for The Middleby Co. Increased by Zacks Research (NASDAQ:MIDD)

The Middleby Co. (NASDAQ:MIDD) – Equities research analysts at Zacks Research lifted their Q4 2024 EPS estimates for shares of Middleby in a research note issued on Thursday, April 18th. Zacks Research analyst R. Department now anticipates that the industrial products company will earn $2.77 per share for the quarter, up from their previous forecast of $2.75. The consensus estimate for Middleby’s current full-year earnings is $10.32 per share. Zacks Research also issued estimates for Middleby’s Q3 2025 earnings at $2.82 EPS, Q4 2025 earnings at $2.91 EPS, FY2025 earnings at $10.91 EPS and FY2026 earnings at $11.88 EPS.

A number of other brokerages also recently commented on MIDD. Canaccord Genuity Group increased their price objective on shares of Middleby from $164.00 to $166.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. TheStreet raised shares of Middleby from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. Finally, Jefferies Financial Group increased their price objective on shares of Middleby from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $159.38.

Middleby Price Performance

Shares of MIDD opened at $142.60 on Friday. Middleby has a fifty-two week low of $109.59 and a fifty-two week high of $161.01. The firm’s 50 day moving average price is $151.22 and its 200 day moving average price is $138.55. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.73. The company has a market cap of $7.64 billion, a P/E ratio of 19.24 and a beta of 1.56.

Middleby (NASDAQ:MIDD) last announced its earnings results on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.21. Middleby had a net margin of 9.93% and a return on equity of 16.99%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm earned $2.57 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis.

Insider Activity at Middleby

In related news, Director Cathy L. Mccarthy sold 1,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total value of $153,120.00. Following the transaction, the director now directly owns 7,971 shares of the company’s stock, valued at approximately $1,220,519.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Chapin Sarah Palisi sold 350 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $151.47, for a total transaction of $53,014.50. Following the completion of the sale, the director now owns 6,306 shares in the company, valued at approximately $955,169.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cathy L. Mccarthy sold 1,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total transaction of $153,120.00. Following the sale, the director now owns 7,971 shares of the company’s stock, valued at approximately $1,220,519.52. The disclosure for this sale can be found here. Insiders own 1.16% of the company’s stock.

Institutional Trading of Middleby

A number of large investors have recently bought and sold shares of MIDD. Rise Advisors LLC acquired a new stake in shares of Middleby in the 1st quarter worth $25,000. Covington Capital Management acquired a new stake in shares of Middleby in the 3rd quarter worth $25,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Middleby by 1,246.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 162 shares during the period. Signaturefd LLC lifted its stake in shares of Middleby by 230.1% in the 4th quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 168 shares during the period. Finally, State of Wyoming lifted its stake in shares of Middleby by 29.5% in the 2nd quarter. State of Wyoming now owns 334 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 76 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

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.