Q4 2024 Earnings Estimate for The Middleby Co. Issued By Zacks Research (NASDAQ:MIDD)

The Middleby Co. (NASDAQ:MIDD - Free Report) - Stock analysts at Zacks Research increased their Q4 2024 EPS estimates for Middleby in a research report issued to clients and investors on Thursday, April 18th. Zacks Research analyst R. Department now expects 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.

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

Middleby Stock Up 1.1 %

MIDD traded up $1.59 during trading hours on Friday, hitting $142.60. 290,269 shares of the company's stock were exchanged, compared to its average volume of 343,527. Middleby has a 1-year low of $109.59 and a 1-year high of $161.01. The stock's 50-day moving average is $151.22 and its two-hundred day moving average is $138.55. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 19.24 and a beta of 1.56. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.73.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its earnings results on Tuesday, February 20th. The industrial products company reported $2.65 EPS 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 business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the prior year, the company posted $2.57 earnings per share. The firm's revenue was down 2.2% on a year-over-year basis.

Insider Activity

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

Hedge Funds Weigh In On Middleby

Hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its position 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 worth $3,214,000 after acquiring an additional 14,991 shares during the period. Nordea Investment Management AB increased its position in Middleby by 13.3% during the fourth quarter. Nordea Investment Management AB now owns 1,696,476 shares of the industrial products company's stock worth $251,621,000 after acquiring an additional 198,859 shares during the period. Envestnet Asset Management Inc. increased its position in Middleby by 54.3% during the third quarter. Envestnet Asset Management Inc. now owns 38,356 shares of the industrial products company's stock worth $4,910,000 after acquiring an additional 13,493 shares during the period. Hudson Bay Capital Management LP increased its position in Middleby by 28.5% during the third quarter. Hudson Bay Capital Management LP now owns 56,712 shares of the industrial products company's stock worth $7,259,000 after acquiring an additional 12,589 shares during the period. Finally, Cardinal Capital Management increased its holdings in Middleby by 2.2% in the 4th quarter. Cardinal Capital Management now owns 5,728 shares of the industrial products company's stock valued at $843,000 after buying an additional 124 shares during the period. 98.55% of the stock is owned by institutional investors.

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.