Middleby Corp (NASDAQ:MIDD) – Analysts at Seaport Global Securities lowered their Q4 2018 earnings per share (EPS) estimates for Middleby in a research report issued to clients and investors on Wednesday, November 14th. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will post earnings per share of $1.62 for the quarter, down from their previous forecast of $1.66. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Middleby’s Q2 2019 earnings at $1.81 EPS, Q3 2019 earnings at $1.79 EPS and Q4 2019 earnings at $1.96 EPS.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $1.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.01). Middleby had a return on equity of 22.14% and a net margin of 11.45%. The business had revenue of $713.30 million during the quarter, compared to the consensus estimate of $731.46 million. During the same quarter in the previous year, the company earned $1.36 earnings per share. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year.

MIDD has been the topic of several other reports. TheStreet raised Middleby from a “c+” rating to a “b-” rating in a report on Wednesday, September 5th. BidaskClub cut Middleby from a “strong-buy” rating to a “buy” rating in a report on Friday, October 12th. Zacks Investment Research raised Middleby from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a report on Tuesday, October 9th. Buckingham Research raised Middleby from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $115.00 to $174.00 in a report on Monday, September 24th. Finally, Wellington Shields raised Middleby from a “hold” rating to a “gradually accumulate” rating in a report on Thursday, August 9th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Middleby presently has an average rating of “Buy” and a consensus price target of $135.57.

MIDD stock opened at $117.83 on Friday. Middleby has a 1-year low of $98.06 and a 1-year high of $138.89. The company has a quick ratio of 0.99, a current ratio of 1.88 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 19.13 and a beta of 1.83.

Large investors have recently added to or reduced their stakes in the stock. Vision Capital Management Inc. raised its holdings in Middleby by 59.3% during the 3rd quarter. Vision Capital Management Inc. now owns 20,961 shares of the industrial products company’s stock valued at $2,711,000 after buying an additional 7,802 shares during the period. Trellus Management Company LLC purchased a new stake in Middleby during the 2nd quarter valued at $627,000. Fiera Capital Corp raised its holdings in Middleby by 1.9% during the 2nd quarter. Fiera Capital Corp now owns 2,848,263 shares of the industrial products company’s stock valued at $297,415,000 after buying an additional 52,753 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Middleby by 4.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 174,794 shares of the industrial products company’s stock valued at $18,252,000 after buying an additional 7,896 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Middleby by 9.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 259,315 shares of the industrial products company’s stock valued at $27,078,000 after buying an additional 21,602 shares during the period.

About Middleby

The Middleby Corporation designs, manufactures, markets, distributes, and services 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 cooking and warming equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

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Earnings History and Estimates for Middleby (NASDAQ:MIDD)

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