Seaport Res Ptn Brokers Raises Profit Estimates for The Middleby Co. (NASDAQ: MIDD)
The Middleby Co. (NASDAQ: MIDD) – Seaport Res Ptn analysts raised their 2022 earnings per share estimate for The Middleby in a report released on Tuesday, June 22. Seaport Res Ptn analyst W. Liptak now expects the industrials company to post earnings per share of $ 8.68 for the year, up from its previous estimate of 8. $ 67.
MIDD has been the subject of several other reports. KeyCorp raised its price target for The Middleby stock from $ 195.00 to $ 210.00 and assigned the company an “overweight” rating in a research report on Thursday, April 22. CL King downgraded The Middleby’s shares from a “neutral” rating to a “buy” rating in a research report released on Thursday, April 22. Barclays assumed coverage of The Middleby shares in a research report on Thursday, June 10. They set an “overweight” rating and a target price of $ 195.00 for the stock. Jefferies Financial Group raised its price target for The Middleby shares from $ 190.00 to $ 220.00 in a research report released Thursday, April 22. Finally, Citigroup upgraded The Middleby’s shares from a “neutral” rating to a “buy” rating in a research report on Monday, June 7. One analyst rated the stock with a conservation rating and nine gave the stock a buy rating. The company has a consensus rating of “Buy” and a consensus price target of $ 194.22.
Shares of The Middleby opened at $ 168.68 on Thursday. The company has a debt ratio of 0.90, a quick ratio of 1.15 and a current ratio of 1.95. The company’s 50-day simple moving average is $ 171.40. The Middleby has a twelve month low of $ 70.50 and a twelve month high of $ 186.20. The company has a market cap of $ 9.38 billion, a price-to-earnings ratio of 41.96 and a beta of 1.73. The Middleby (NASDAQ: MIDD) last released its quarterly results on Thursday, May 6. The industrials company reported earnings per share (EPS) of $ 1.79 for the quarter, beating the consensus estimate of $ 1.63 by $ 0.16. The Middleby had a net margin of 8.59% and a return on equity of 14.70%. The company posted revenue of $ 758.06 million for the quarter, compared to analysts’ estimates of $ 714.50 million. During the same period last year, the company posted EPS of $ 1.46. The company’s quarterly revenue increased 11.9% year-over-year.
Several hedge funds and other institutional investors have recently changed their positions in MIDD. Russell Investments Group Ltd. increased its stake in The Middleby shares by 11.1% in the fourth quarter. Russell Investments Group Ltd. now owns 33,799 shares of the industrial products company valued at $ 4,354,000 after acquiring an additional 3,382 shares in the last quarter. Sei Investments Co. increased its stake in The Middleby shares by 11.3% during the fourth quarter. Sei Investments Co. now owns 36,962 shares of the industrials company valued at $ 4,761,000 after purchasing an additional 3,741 shares in the last quarter. FDx Advisors Inc. purchased a new equity interest in The Middleby during the fourth quarter valued at approximately $ 308,000. Alliancebernstein LP increased its stake in The Middleby shares by 13.2% during the fourth quarter. Alliancebernstein LP now owns 1,090,832 shares of the industrial products company valued at $ 140,630,000 after purchasing an additional 127,374 shares in the last quarter. Finally, CIBC World Markets Inc. purchased a new equity interest in The Middleby during the fourth quarter for a value of approximately $ 227,000. 93.26% of the shares are held by institutional investors.
About The Middleby
Middleby Corporation designs, manufactures, markets, distributes and services a line of catering, 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, Combination, Convection, Bake, Proof, Deck, Quick Cook and Hydrovection ovens; cookers, fryers, rethermalizers; equipment for steaming, food reheating, catering, induction cooking, countertop cooking and kitchen ventilation; warming cabinets, broilers, fanless cooking systems, toasters, hot plates, charcoal grills, professional blenders, stainless steel fabrication, custom carpentry, professional refrigerators, blast chillers, cold rooms, ice machines, freezers; and Soft Ice Cream, Coffee and Beverage Dispensing, Home and Professional Craft Brewing Equipment, French Fries Dispensers, Bottle Filling and Canning Equipment, and IoT Solutions.
Featured article: Stock market – What is a circuit breaker?
This instant news alert was powered by narrative science technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured article: What is a Buy-Side Analyst?
7 stocks to buy as Americans receive stimulus checks
Millions of Americans will receive an additional $ 1,400 as part of the Biden stimulus package after receiving $ 600 as part of the stimulus bill President Trump announced on December 27, 2020. Many have already done so.
For many Americans, there is a definite plan for how this money will be spent. And usual suspects like Walmart (NYSE: WMT) and Amazon (NASDAQ: AMZN) will likely continue to be busy. However, for other Americans, the money they receive will be really like finding money. The two scenarios present different thoughts to investors.
You can accept payments. You can disagree with them. Regardless, they are coming and now, as an investor, the question is how to profit from the new spending that will undoubtedly occur as Americans receive this stimulus?
We have some ideas and we share them with you in this special presentation. It is heartwarming to remember that for many people, stimulus checks will help ease the pressure of desperate circumstances.
Check out “7 Stocks to Buy While Americans Get Stimulus Checks.”