Middleby (MIDD) Set to Announce Earnings on Wednesday

Middleby (NASDAQ:MIDD - Get Free Report) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $2.05 per share for the quarter. Parties that wish to listen to the company's conference call can do so using this link.

Middleby (NASDAQ:MIDD - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.21. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. Middleby had a return on equity of 16.99% and a net margin of 9.93%. The firm's revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.57 EPS. On average, analysts expect Middleby to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Middleby Stock Down 1.1 %

Shares of MIDD traded down $1.46 during trading hours on Wednesday, hitting $137.51. 436,398 shares of the company were exchanged, compared to its average volume of 340,513. The company has a market cap of $7.37 billion, a PE ratio of 18.70 and a beta of 1.56. The firm's 50 day moving average is $150.80 and its 200-day moving average is $139.67. Middleby has a 52 week low of $109.59 and a 52 week high of $161.01. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 2.31.

Insider Buying and Selling at Middleby

In other Middleby news, Director Cathy L. Mccarthy sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total value of $153,120.00. Following the completion of the transaction, the director now 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 SEC, which is available at this hyperlink. In other Middleby news, Director Chapin Sarah Palisi sold 350 shares of the company's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $151.47, for a total value of $53,014.50. Following the completion of the transaction, the director now owns 6,306 shares of the company's stock, valued at approximately $955,169.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cathy L. Mccarthy sold 1,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now directly 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 1.17% of the company's stock.

Analysts Set New Price Targets

MIDD has been the subject of several recent analyst reports. Jefferies Financial Group upped their price target on Middleby from $140.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, January 11th. TheStreet upgraded Middleby from a "c+" rating to a "b-" rating in a research note on Monday, January 8th. Finally, Canaccord Genuity Group increased their target price on Middleby from $164.00 to $166.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $159.38.

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.