The Middleby Co. (NASDAQ:MIDD – Free Report) – Analysts at Zacks Research cut their FY2024 earnings estimates for shares of Middleby in a research report issued on Monday, July 22nd. Zacks Research analyst R. Department now expects that the industrial products company will earn $9.56 per share for the year, down from their previous estimate of $9.57. The consensus estimate for Middleby’s current full-year earnings is $9.77 per share. Zacks Research also issued estimates for Middleby’s Q2 2025 earnings at $2.44 EPS, FY2025 earnings at $9.62 EPS and Q1 2026 earnings at $2.42 EPS.
Middleby (NASDAQ:MIDD – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.16). The firm had revenue of $926.90 million for the quarter, compared to the consensus estimate of $979.05 million. Middleby had a net margin of 9.82% and a return on equity of 15.88%. Middleby’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the business earned $2.19 EPS.
Several other research firms also recently commented on MIDD. KeyCorp reduced their price objective on Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. cut shares of Middleby from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $145.00 to $118.00 in a report on Wednesday, May 22nd. Raymond James assumed coverage on shares of Middleby in a report on Friday, June 28th. They issued a “market perform” rating on the stock. William Blair upgraded shares of Middleby to a “hold” rating in a research note on Wednesday, May 8th. Finally, Canaccord Genuity Group cut their price objective on Middleby from $166.00 to $159.00 and set a “buy” rating for the company in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $154.57.
View Our Latest Report on MIDD
Middleby Stock Performance
Shares of MIDD opened at $128.64 on Wednesday. Middleby has a 12 month low of $109.59 and a 12 month high of $161.01. The business’s fifty day simple moving average is $126.23 and its two-hundred day simple moving average is $139.35. The company has a current ratio of 2.40, a quick ratio of 1.28 and a debt-to-equity ratio of 0.72. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 17.92 and a beta of 1.61.
Institutional Investors Weigh In On Middleby
A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its holdings in Middleby by 18.2% during the fourth quarter. Raymond James & Associates now owns 5,313 shares of the industrial products company’s stock valued at $782,000 after purchasing an additional 817 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Middleby by 14.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,852 shares of the industrial products company’s stock valued at $420,000 after purchasing an additional 352 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Middleby by 79.5% during the fourth quarter. Pacer Advisors Inc. now owns 8,052 shares of the industrial products company’s stock valued at $1,185,000 after purchasing an additional 3,567 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Middleby by 218.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 21,842 shares of the industrial products company’s stock valued at $3,214,000 after purchasing an additional 14,991 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. lifted its holdings in Middleby by 53.0% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 153,668 shares of the industrial products company’s stock valued at $22,615,000 after purchasing an additional 53,248 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.
Insider Buying and Selling at Middleby
In other Middleby news, Director John R. Miller III sold 2,000 shares of Middleby stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $126.32, for a total transaction of $252,640.00. Following the completion of the transaction, the director now owns 10,931 shares in the company, valued at approximately $1,380,803.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Middleby news, Director Chapin Sarah Palisi sold 235 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $137.18, for a total transaction of $32,237.30. Following the transaction, the director now owns 7,211 shares in the company, valued at $989,204.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John R. Miller III sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $126.32, for a total value of $252,640.00. Following the completion of the sale, the director now owns 10,931 shares of the company’s stock, valued at $1,380,803.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,385 shares of company stock worth $304,134. 1.16% of the stock is currently owned by insiders.
About Middleby
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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