Equities analysts forecast that Middleby Corp (NASDAQ:MIDD) will post earnings per share (EPS) of $1.79 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Middleby’s earnings. The lowest EPS estimate is $1.70 and the highest is $1.84. Middleby reported earnings per share of $1.63 in the same quarter last year, which suggests a positive year-over-year growth rate of 9.8%. The company is expected to issue its next earnings results on Wednesday, August 14th.

On average, analysts expect that Middleby will report full-year earnings of $6.92 per share for the current financial year, with EPS estimates ranging from $6.85 to $7.00. For the next year, analysts anticipate that the firm will post earnings of $7.81 per share, with EPS estimates ranging from $7.33 to $8.20. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Middleby.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.01. Middleby had a return on equity of 21.91% and a net margin of 11.35%. The company had revenue of $686.80 million during the quarter, compared to the consensus estimate of $683.01 million. During the same period in the previous year, the company posted $1.20 earnings per share. Middleby’s revenue for the quarter was up 17.4% on a year-over-year basis.

A number of research analysts have issued reports on MIDD shares. Robert W. Baird raised Middleby from a “neutral” rating to an “outperform” rating and set a $142.00 price target for the company in a report on Tuesday, January 22nd. BidaskClub raised Middleby from a “hold” rating to a “buy” rating in a report on Tuesday, January 22nd. Zacks Investment Research raised Middleby from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a report on Wednesday, January 23rd. TheStreet raised Middleby from a “c+” rating to a “b” rating in a report on Friday, January 25th. Finally, BMO Capital Markets boosted their price target on Middleby to $150.00 and gave the company a “positive” rating in a report on Friday, March 8th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $147.43.

In other news, Director John R. Miller III sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $126.37, for a total transaction of $252,740.00. Following the completion of the transaction, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $2,021,920. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Chapin Sarah Palisi sold 300 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $124.18, for a total value of $37,254.00. Following the transaction, the director now directly owns 5,100 shares of the company’s stock, valued at $633,318. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,400 shares of company stock valued at $303,494. Corporate insiders own 1.98% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Man Group plc acquired a new position in shares of Middleby during the third quarter valued at about $464,000. AQR Capital Management LLC bought a new position in shares of Middleby during the third quarter valued at about $252,000. Nordea Investment Management AB lifted its position in shares of Middleby by 2.5% during the third quarter. Nordea Investment Management AB now owns 236,260 shares of the industrial products company’s stock valued at $30,561,000 after purchasing an additional 5,746 shares in the last quarter. Federated Investors Inc. PA bought a new position in shares of Middleby during the third quarter valued at about $5,865,000. Finally, Vanguard Group Inc lifted its position in shares of Middleby by 1.0% during the third quarter. Vanguard Group Inc now owns 4,755,844 shares of the industrial products company’s stock valued at $615,168,000 after purchasing an additional 47,899 shares in the last quarter.

Shares of NASDAQ:MIDD opened at $138.20 on Tuesday. Middleby has a 12-month low of $96.65 and a 12-month high of $140.15. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of 22.66 and a beta of 1.79. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.98 and a quick ratio of 0.95.

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 foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

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