Middleby Corp (MIDD) Expected to Post Quarterly Sales of $733.10 Million

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Equities research analysts predict that Middleby Corp (NASDAQ:MIDD) will announce $733.10 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Middleby’s earnings. The highest sales estimate is $740.30 million and the lowest is $722.70 million. Middleby posted sales of $632.86 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.8%. The business is expected to report its next quarterly earnings results on Tuesday, February 26th.

On average, analysts expect that Middleby will report full year sales of $2.70 billion for the current fiscal year, with estimates ranging from $2.69 billion to $2.71 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.95 billion, with estimates ranging from $2.91 billion to $2.98 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Middleby.

MIDD has been the subject of a number of research analyst reports. BidaskClub cut Middleby from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Zacks Investment Research cut Middleby from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Seaport Global Securities upgraded Middleby from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 14th. TheStreet cut Middleby from a “b-” rating to a “c+” rating in a research report on Friday, December 28th. Finally, Robert W. Baird upgraded Middleby from a “neutral” rating to an “outperform” rating and set a $142.00 price objective for the company in a research report on Tuesday, January 22nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $140.50.

Shares of MIDD stock opened at $124.64 on Thursday. Middleby has a fifty-two week low of $96.65 and a fifty-two week high of $137.16. The firm has a market capitalization of $6.93 billion, a PE ratio of 20.23 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 institutional investors have recently bought and sold shares of MIDD. Enlightenment Research LLC purchased a new stake in Middleby during the 4th quarter worth about $41,000. Dubuque Bank & Trust Co. increased its position in Middleby by 161.3% during the 4th quarter. Dubuque Bank & Trust Co. now owns 499 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 308 shares in the last quarter. Moody National Bank Trust Division purchased a new stake in Middleby during the 4th quarter worth about $54,000. ETF Managers Group LLC increased its position 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 increased its position 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.

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