Wall Street brokerages expect that Middleby Corp (NASDAQ:MIDD) will report sales of $733.10 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Middleby’s earnings, with estimates ranging from $722.70 million to $740.30 million. Middleby posted sales of $632.86 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.8%. The firm is scheduled to report its next quarterly earnings report on Tuesday, February 26th.
On average, analysts expect that Middleby will report full-year sales of $2.70 billion for the current year, with estimates ranging from $2.69 billion to $2.71 billion. For the next fiscal year, analysts expect that the company will post sales of $2.95 billion, with estimates ranging from $2.91 billion to $2.98 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Middleby.
Get Middleby alerts:MIDD has been the subject of several analyst reports. TheStreet raised Middleby from a “c+” rating to a “b” rating in a research report on Friday, January 25th. BidaskClub raised Middleby from a “hold” rating to a “buy” rating in a report on Tuesday, November 13th. Zacks Investment Research upgraded shares of Middleby from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Wednesday, January 23rd. Finally, Seaport Global Securities raised shares of Middleby from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 14th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $140.50.
Shares of MIDD traded up $2.21 during mid-day trading on Thursday, hitting $126.27. 315,978 shares of the stock were exchanged, compared to its average volume of 395,000. Middleby has a 52-week low of $96.65 and a 52-week high of $137.16. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 20.50 and a beta of 1.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.88 and a quick ratio of 0.99.
A number of large investors have recently added to or reduced their stakes in the stock. Enlightenment Research LLC purchased a new position in Middleby during the fourth quarter valued at approximately $41,000. Dubuque Bank & Trust Co. raised its position in Middleby by 161.3% in the fourth quarter. Dubuque Bank & Trust Co. now owns 499 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 308 shares during the period. Moody National Bank Trust Division purchased a new stake in shares of Middleby in the 4th quarter valued at $54,000. ETF Managers Group LLC grew its stake in Middleby by 18.3% during the 4th quarter. ETF Managers Group LLC now owns 1,073 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 166 shares in the last quarter. Finally, Ffcm LLC grew its stake in Middleby by 205.3% during the 4th quarter. Ffcm LLC now owns 1,209 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 813 shares in the last quarter.
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.
Further Reading: Swap
Get a free copy of the Zacks research report on Middleby (MIDD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
No comments:
Post a Comment