Middleby (NASDAQ:MIDD) Posts Quarterly Earnings Results, Beats Estimates By $0.38 EPS

Middleby (NASDAQ:MIDD) issued its quarterly earnings results on Tuesday. The industrial products company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.38, Zacks reports. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $996.69 million. During the same period in the previous year, the firm posted $2.65 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year.

Middleby Stock Down 2.3 %

Middleby stock opened at $165.36 on Thursday. The stock has a market cap of $8.90 billion, a PE ratio of 22.81 and a beta of 1.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The stock has a fifty day moving average of $152.36 and a 200 day moving average of $143.15. Middleby has a one year low of $118.41 and a one year high of $182.73.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 target price (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Robert W. Baird lifted their target price on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Barclays increased their price target on shares of Middleby from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, KeyCorp lifted their target price on Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Middleby presently has a consensus rating of “Hold” and an average price target of $180.86.

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.