The Middleby Co. (NASDAQ:MIDD – Get Rating) – Stock analysts at Jefferies Financial Group decreased their Q2 2022 earnings estimates for shares of Middleby in a research report issued to clients and investors on Wednesday, May 25th. Jefferies Financial Group analyst S. Boroditsky now forecasts that the industrial products company will earn $2.16 per share for the quarter, down from their previous estimate of $2.24. Jefferies Financial Group also issued estimates for Middleby’s Q4 2022 earnings at $2.98 EPS.
Other analysts have also recently issued reports about the stock. KeyCorp lowered their target price on shares of Middleby from $200.00 to $182.00 in a research note on Wednesday, May 11th. Robert W. Baird decreased their price target on shares of Middleby from $211.00 to $201.00 in a research note on Wednesday, May 11th. JPMorgan Chase & Co. dropped their price target on shares of Middleby from $198.00 to $195.00 and set a “neutral” rating on the stock in a report on Monday, March 28th. Zacks Investment Research cut shares of Middleby from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a research note on Friday, February 25th. Finally, StockNews.com assumed coverage on shares of Middleby in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Middleby currently has a consensus rating of “Buy” and a consensus target price of $193.57.
Middleby (NASDAQ:MIDD – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The industrial products company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.01. Middleby had a net margin of 13.91% and a return on equity of 19.53%. The business had revenue of $994.68 million during the quarter, compared to analysts’ expectations of $934.97 million. During the same period last year, the company posted $1.79 earnings per share. The business’s quarterly revenue was up 31.2% on a year-over-year basis.
Institutional investors have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV boosted its holdings in Middleby by 410.3% in the third quarter. Massmutual Trust Co. FSB ADV now owns 148 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 119 shares during the last quarter. Freedman Financial Associates Inc. bought a new stake in shares of Middleby during the 4th quarter worth $35,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Middleby by 39.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 191 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 54 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Middleby by 170.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 243 shares of the industrial products company’s stock worth $41,000 after buying an additional 153 shares during the period. Finally, Elequin Capital LP purchased a new stake in shares of Middleby during the first quarter worth $41,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.
In other Middleby news, CEO Timothy John Fitzgerald bought 7,500 shares of the business’s stock in a transaction dated Thursday, May 12th. The shares were acquired at an average price of $132.29 per share, with a total value of $992,175.00. Following the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at $2,645,800. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John R. Miller III sold 2,769 shares of Middleby stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $166.45, for a total value of $460,900.05. The disclosure for this sale can be found here. Insiders acquired a total of 11,585 shares of company stock valued at $1,572,270 over the last ninety days. Corporate insiders own 1.24% of the company’s stock.
About Middleby (Get Rating)
The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, 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; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.
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