FY2025 EPS Estimates for Middleby Boosted by Zacks Research

The Middleby Co. (NASDAQ:MIDD) – Investment analysts at Zacks Research increased their FY2025 earnings per share (EPS) estimates for shares of Middleby in a note issued to investors on Thursday, January 30th. Zacks Research analyst R. Department now expects that the industrial products company will earn $8.93 per share for the year, up from their prior forecast of $8.92. The consensus estimate for Middleby’s current full-year earnings is $9.12 per share.

Middleby (NASDAQ:MIDD) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). The firm had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned $2.35 earnings per share.

MIDD has been the subject of a number of other research reports. StockNews.com downgraded Middleby from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Robert W. Baird increased their target price on Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Canaccord Genuity Group increased their target price on Middleby from $155.00 to $192.00 and gave the company a “buy” rating in a report on Monday, January 27th. KeyCorp increased their target price on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $160.00 target price (down previously from $170.00) on shares of Middleby in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $174.67.

Middleby Stock Performance

MIDD opened at $171.14 on Monday. Middleby has a 1-year low of $118.41 and a 1-year high of $177.90. The business has a 50 day moving average price of $142.91 and a two-hundred day moving average price of $138.94. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 23.61 and a beta of 1.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70.

Institutional Investors Weigh In On Middleby

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in shares of Middleby by 4,494.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company’s stock valued at $171,524,000 after buying an additional 1,238,767 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Middleby by 17.7% in the third quarter. Pacer Advisors Inc. now owns 1,138,999 shares of the industrial products company’s stock valued at $158,469,000 after buying an additional 171,634 shares during the period. Geode Capital Management LLC lifted its stake in shares of Middleby by 1.0% in the third quarter. Geode Capital Management LLC now owns 936,596 shares of the industrial products company’s stock valued at $130,341,000 after buying an additional 8,926 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Middleby by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 344,391 shares of the industrial products company’s stock valued at $47,915,000 after buying an additional 2,676 shares during the period. Finally, Oldfield Partners LLP lifted its stake in shares of Middleby by 1.5% in the third quarter. Oldfield Partners LLP now owns 332,473 shares of the industrial products company’s stock valued at $46,257,000 after buying an additional 4,837 shares during the period. 98.55% of the stock is currently 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.