The Middleby Co. (NASDAQ:MIDD – Get Rating) – Analysts at Seaport Res Ptn raised their Q3 2023 EPS estimates for Middleby in a note issued to investors on Wednesday, February 22nd. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings of $2.50 per share for the quarter, up from their previous estimate of $2.40. The consensus estimate for Middleby's current full-year earnings is $9.67 per share. Seaport Res Ptn also issued estimates for Middleby's Q4 2023 earnings at $2.96 EPS and FY2023 earnings at $9.62 EPS.

Other analysts have also issued research reports about the stock. Barclays lifted their target price on shares of Middleby from $175.00 to $177.00 and gave the company an "overweight" rating in a research report on Friday, January 13th. Benchmark boosted their target price on shares of Middleby from $170.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday. Canaccord Genuity Group boosted their price target on shares of Middleby from $162.00 to $176.00 and gave the company a "buy" rating in a research note on Thursday, February 16th. KeyCorp boosted their price target on shares of Middleby from $175.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Canaccord Genuity Group initiated coverage on shares of Middleby in a research note on Wednesday, November 16th. They issued a "buy" rating on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $168.14.

Middleby Trading Down 1.0 %

Shares of Middleby stock opened at $152.48 on Friday. Middleby has a 1 year low of $120.30 and a 1 year high of $180.50. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.03 and a quick ratio of 0.95. The firm has a fifty day moving average price of $146.90 and a 200 day moving average price of $142.25. The stock has a market cap of $8.22 billion, a PE ratio of 19.16 and a beta of 1.54.

Middleby (NASDAQ:MIDD – Get Rating) last issued its earnings results on Tuesday, February 21st. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.11. Middleby had a net margin of 10.82% and a return on equity of 19.46%. The firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the company posted $2.11 earnings per share. The firm's revenue was up 19.0% compared to the same quarter last year.

Hedge Funds Weigh In On Middleby

A number of large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in Middleby by 2.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 27,409 shares of the industrial products company's stock worth $3,670,000 after buying an additional 575 shares during the last quarter. CI Private Wealth LLC purchased a new position in Middleby during the 4th quarter valued at about $958,000. Utah Retirement Systems increased its holdings in Middleby by 1.0% during the 4th quarter. Utah Retirement Systems now owns 9,641 shares of the industrial products company's stock valued at $1,291,000 after acquiring an additional 100 shares in the last quarter. Captrust Financial Advisors increased its holdings in Middleby by 31.6% during the 4th quarter. Captrust Financial Advisors now owns 8,659 shares of the industrial products company's stock valued at $1,159,000 after acquiring an additional 2,080 shares in the last quarter. Finally, Bridgefront Capital LLC purchased a new position in Middleby during the 4th quarter valued at about $459,000. Hedge funds and other institutional investors own 98.48% of the company's stock.

Insider Activity

In other news, Director Chapin Sarah Palisi sold 225 shares of the company's stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $144.83, for a total value of $32,586.75. Following the completion of the transaction, the director now owns 6,760 shares in the company, valued at approximately $979,050.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.24% of the company's stock.

Middleby Company Profile

(Get Rating)

The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry.

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