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

The Middleby Co. (NASDAQ:MIDD) – William Blair decreased their Q4 2024 earnings per share (EPS) estimates for shares of Middleby in a research note issued to investors on Thursday, August 1st. William Blair analyst R. Sparenblek now forecasts that the industrial products company will post earnings per share of $2.82 for the quarter, down from their previous forecast of $3.12. William Blair currently has a “Hold” rating on the stock. The consensus estimate for Middleby’s current full-year earnings is $9.77 per share. William Blair also issued estimates for Middleby’s FY2025 earnings at $10.50 EPS.

MIDD has been the topic of several other reports. KeyCorp dropped their price target on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. JPMorgan Chase & Co. increased their price target on shares of Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price objective on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Raymond James initiated coverage on shares of Middleby in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Canaccord Genuity Group restated a “buy” rating and set a $159.00 price target on shares of Middleby in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $156.63.

Middleby Trading Down 0.2 %

NASDAQ MIDD opened at $138.10 on Monday. The firm’s 50 day moving average price is $127.36 and its two-hundred day moving average price is $139.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.28 and a current ratio of 2.50. Middleby has a twelve month low of $109.59 and a twelve month high of $161.01. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 19.23 and a beta of 1.61.

Middleby (NASDAQ:MIDD) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. The company had revenue of $991.55 million during the quarter, compared to analysts’ expectations of $994.05 million. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the company posted $2.47 earnings per share.

Insider Activity at Middleby

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 shares were sold at an average price of $126.32, for a total transaction of $252,640.00. Following the completion of the sale, the director now directly owns 10,931 shares of the company’s stock, valued at approximately $1,380,803.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director John R. Miller III sold 2,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 10,931 shares in the company, valued at $1,380,803.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Chapin Sarah Palisi sold 235 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 7,211 shares of the company’s stock, valued at approximately $989,204.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,385 shares of company stock valued at $304,134. Corporate insiders own 1.16% of the company’s stock.

Institutional Investors Weigh In On Middleby

A number of hedge funds and other institutional investors have recently modified their holdings of MIDD. International Assets Investment Management LLC raised its stake in Middleby by 14,616.7% in the fourth quarter. International Assets Investment Management LLC now owns 15,894 shares of the industrial products company’s stock valued at $2,339,000 after purchasing an additional 15,786 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Middleby during the 4th quarter worth approximately $1,178,000. Epoch Investment Partners Inc. increased its stake in Middleby by 481.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 68,400 shares of the industrial products company’s stock valued at $10,066,000 after acquiring an additional 56,627 shares during the last quarter. PEAK6 Investments LLC acquired a new position in Middleby during the fourth quarter valued at approximately $3,435,000. Finally, Balyasny Asset Management L.P. lifted its stake in Middleby by 533.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 483,214 shares of the industrial products company’s stock worth $71,115,000 after purchasing an additional 406,958 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

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.