Zacks Research Comments on The Middleby Co.’s Q4 2024 Earnings (NASDAQ:MIDD)

The Middleby Co. (NASDAQ:MIDD) – Analysts at Zacks Research boosted their Q4 2024 earnings estimates for shares of Middleby in a report issued 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 estimate 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.

MIDD has been the topic of a number of other reports. TheStreet raised shares of Middleby from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Jefferies Financial Group lifted their price objective on Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. 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 report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $159.38.

Middleby Stock Performance

NASDAQ:MIDD opened at $141.01 on Friday. The stock has a market cap of $7.56 billion, a PE ratio of 19.03 and a beta of 1.56. Middleby has a fifty-two week low of $109.59 and a fifty-two week high of $161.01. The firm’s fifty day simple moving average is $151.29 and its 200-day simple moving average is $138.44. 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) last released its quarterly 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. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Middleby had a return on equity of 16.99% and a net margin of 9.93%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 earnings per share.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Middleby during the 1st quarter worth about $821,000. Great West Life Assurance Co. Can lifted its position in shares of Middleby by 8.4% during the first quarter. Great West Life Assurance Co. Can now owns 30,611 shares of the industrial products company’s stock worth $5,161,000 after purchasing an additional 2,362 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Middleby by 1.0% in the first quarter. Sei Investments Co. now owns 57,728 shares of the industrial products company’s stock valued at $9,442,000 after purchasing an additional 588 shares during the period. Baird Financial Group Inc. grew its holdings in Middleby by 136.2% during the 1st quarter. Baird Financial Group Inc. now owns 4,706 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 2,714 shares in the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in Middleby in the 1st quarter worth $21,366,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Middleby

In related news, Director Cathy L. Mccarthy sold 1,000 shares of the company’s stock in a transaction 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 directly owns 7,971 shares in the company, valued at $1,220,519.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Cathy L. Mccarthy sold 1,000 shares of the company’s 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 owns 7,971 shares of the company’s stock, valued at approximately $1,220,519.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Chapin Sarah Palisi sold 350 shares of the firm’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 transaction of $53,014.50. Following the completion of the sale, the director now directly owns 6,306 shares in the company, valued at $955,169.82. The disclosure for this sale can be found here. Insiders own 1.16% 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.