FY2024 EPS Estimates for The Middleby Co. Decreased by Zacks Research (NASDAQ:MIDD)

The Middleby Co. (NASDAQ:MIDD) – Analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Middleby in a report released on Monday, July 22nd. Zacks Research analyst R. Department now forecasts that the industrial products company will earn $9.56 per share for the year, down from their prior forecast 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) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.16). The firm had revenue of $926.90 million for the quarter, compared to analysts’ expectations of $979.05 million. Middleby had a return on equity of 15.88% and a net margin of 9.82%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.19 earnings per share.

A number of other analysts also recently commented on the company. KeyCorp decreased their target price on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Canaccord Genuity Group reiterated a “buy” rating and set a $159.00 target price on shares of Middleby in a research report on Thursday. JPMorgan Chase & Co. downgraded Middleby from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $145.00 to $118.00 in a research report on Wednesday, May 22nd. William Blair upgraded Middleby to a “hold” rating in a research report on Wednesday, May 8th. Finally, Raymond James began coverage on Middleby in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. One investment 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, Middleby presently has an average rating of “Moderate Buy” and a consensus price target of $154.57.

Middleby Stock Up 5.5 %

MIDD opened at $131.61 on Wednesday. The business’s fifty day moving average is $125.99 and its two-hundred day moving average is $139.20. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.28 and a current ratio of 2.40. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 18.33 and a beta of 1.61. Middleby has a one year low of $109.59 and a one year high of $161.01.

Insider Activity at Middleby

In related news, Director Chapin Sarah Palisi sold 235 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $137.18, for a total value of $32,237.30. Following the completion of the transaction, the director now directly owns 7,211 shares in the company, valued at $989,204.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John R. Miller III sold 2,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $126.32, for a total value of $252,640.00. Following the completion of the transaction, the director now directly owns 10,931 shares in the company, valued at $1,380,803.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chapin Sarah Palisi sold 235 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $137.18, for a total value of $32,237.30. Following the sale, the director now owns 7,211 shares of the company’s stock, valued at $989,204.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,385 shares of company stock worth $304,134. 1.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Middleby

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Middleby by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock worth $822,165,000 after acquiring an additional 15,798 shares during the last quarter. EdgePoint Investment Group Inc. increased its stake in Middleby by 1.0% during the first quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company’s stock worth $321,342,000 after acquiring an additional 20,511 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Middleby by 0.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,450,221 shares of the industrial products company’s stock worth $233,182,000 after acquiring an additional 11,552 shares during the last quarter. Sarasin & Partners LLP increased its stake in Middleby by 1.6% during the second quarter. Sarasin & Partners LLP now owns 925,915 shares of the industrial products company’s stock worth $113,526,000 after acquiring an additional 14,413 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Middleby by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 617,974 shares of the industrial products company’s stock worth $90,953,000 after acquiring an additional 13,632 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

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.