What is Zacks Research's Forecast for Middleby Q3 Earnings?

Key Points

• Zacks Research has updated its Q3 2027 earnings per share estimate for Middleby, now projecting $2.93, an increase from the previous estimate of $2.91.
• The current full-year earnings consensus for Middleby is estimated at $9.11 per share, despite a quarterly revenue drop of 1.4% compared to the same period last year.
• Middleby has received varying ratings from analysts, with a general consensus of "Hold" and price targets ranging from $125 to $175.

The Middleby Corporation (NASDAQ:MIDD - Free Report) - Research analysts at Zacks Research increased their Q3 2027 earnings per share estimates for shares of Middleby in a research note issued on Monday, September 29th. Zacks Research analyst Team now expects that the industrial products company will post earnings per share of $2.93 for the quarter, up from their prior estimate of $2.91. Zacks Research currently has a "Strong Sell" rating on the stock. The consensus estimate for Middleby's current full-year earnings is $9.11 per share.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.20 by $0.15. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The company had revenue of $977.86 million for the quarter, compared to the consensus estimate of $979.59 million. During the same quarter last year, the company posted $2.39 earnings per share. The company's revenue for the quarter was down 1.4% compared to the same quarter last year.

A number of other research analysts have also weighed in on the stock. Wolfe Research set a $163.00 target price on shares of Middleby and gave the stock an "outperform" rating in a research report on Thursday, September 4th. JPMorgan Chase & Co. dropped their price objective on Middleby from $145.00 to $125.00 and set an "underweight" rating on the stock in a research note on Thursday, August 7th. Canaccord Genuity Group increased their target price on Middleby from $162.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Barclays lowered their target price on Middleby from $180.00 to $165.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Finally, Wall Street Zen lowered Middleby from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Middleby currently has an average rating of "Hold" and an average price target of $160.71.

Middleby Price Performance

NASDAQ MIDD opened at $133.97 on Thursday. Middleby has a 1 year low of $118.09 and a 1 year high of $182.73. The company has a fifty day simple moving average of $135.99 and a 200 day simple moving average of $140.89. The company has a current ratio of 2.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64. The company has a market cap of $6.79 billion, a P/E ratio of 17.04 and a beta of 1.52.

Institutional Investors Weigh In On Middleby

Several institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Middleby by 59.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,029,484 shares of the industrial products company's stock worth $460,422,000 after acquiring an additional 1,133,931 shares during the period. Earnest Partners LLC boosted its holdings in Middleby by 0.6% during the first quarter. Earnest Partners LLC now owns 1,319,757 shares of the industrial products company's stock valued at $200,577,000 after purchasing an additional 7,791 shares in the last quarter. Clarkston Capital Partners LLC grew its stake in shares of Middleby by 0.6% in the 2nd quarter. Clarkston Capital Partners LLC now owns 692,764 shares of the industrial products company's stock valued at $99,758,000 after purchasing an additional 4,204 shares during the period. Sei Investments Co. raised its holdings in shares of Middleby by 4.0% in the 2nd quarter. Sei Investments Co. now owns 680,688 shares of the industrial products company's stock worth $98,019,000 after buying an additional 26,022 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Middleby by 27.0% during the 2nd quarter. Franklin Resources Inc. now owns 621,794 shares of the industrial products company's stock worth $89,538,000 after buying an additional 132,191 shares during the period. Institutional investors own 98.55% of the company's stock.

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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