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Last Price: 153.34 - Change: 2.51 - Change %: 1.6641
02/23/2024 16:00:00 EST

Middleby Corp (MIDD)

Industry: Specialty Industrial Machinery

Price Support Resistance

In the past 20 trading days, MIDD has been trading in a range between $148.44 and $139.83 (gray range band). Red lines on the chart represent key resistance levels and Green lines represent key support levels. As the price moves above the lines you will notice they turn green and red if price moves below a line.

MIDD is breaking above top of the recent 20 day range at $151.85 and appears that it could have some more upside. If it enters a yellow zone the trend may be faltering - consider exiting or taking profits. If it enters a red zone on the chart we would exit the position.

Upside / Downside Potential

Middleby Corp (MIDD) entered a Green zone 4 days ago on the AI powered stock chart. Wall Street analysts have an AVG target price $166.33, a potential upside of 8.47% from the recent price of 153.34. Our AI powered stock target predictor currently has a target price of $195.20 a potential move of 27%. The stock is trading 3.61% (potential upside) below its 52 week high of $158.88 and 39.92 % (potential downside) above its 52 week low of $109.59 - based on the recent price.

Company Summary

The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, and IoT solutions. The Food Processing Equipment Group segment provides batch, baking, proofing, conveyor belt, and continuous processing ovens; frying and automated thermal processing systems; tumblers, massagers, grinders, slicers, reduction and emulsion systems, mixers, formers, and blenders; battering, breading, and seeding equipment; water cutting systems, food presses, food suspension equipment, filling and depositing solutions, and forming equipment; and food safety, food handling, freezing, and defrosting and packaging equipment for customers producing hot dog, dinner sausage, poultry, and lunchmeat, as well as bakery products.

MIDD Website

News

Middleby (MIDD) Q4 Earnings Beat, Revenues Decrease Y/Y
Middleby's (MIDD) fourth-quarter 2023 results benefit from lower costs, partly offset by weakness in the residential business and housing market.
Source: Zacks Investment Research
Wed, 21 Feb 2024 11:26:12 -0500
Sentiment: Neutral
The Middleby Corporation (MIDD) Q4 2023 Earnings Call Transcript
The Middleby Corporation (MIDD) Q4 2023 Earnings Call Transcript
Source: Seeking Alpha
Tue, 20 Feb 2024 20:07:04 -0500
Sentiment: Neutral
Middleby (MIDD) Reports Q4 Earnings: What Key Metrics Have to Say
While the top- and bottom-line numbers for Middleby (MIDD) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Source: Zacks Investment Research
Tue, 20 Feb 2024 10:36:09 -0500
Sentiment: Neutral
Middleby (MIDD) Tops Q4 Earnings Estimates
Middleby (MIDD) came out with quarterly earnings of $2.65 per share, beating the Zacks Consensus Estimate of $2.44 per share. This compares to earnings of $2.57 per share a year ago.
Source: Zacks Investment Research
Tue, 20 Feb 2024 09:15:18 -0500
Sentiment: Positive
The Middleby Corporation Reports Fourth Quarter Results
ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD), a leading worldwide manufacturer of equipment for the commercial foodservice, food processing, and residential kitchen industries, today reported net earnings for the fourth quarter of 2023. "We are proud of the accomplishments our team achieved in 2023, concluding with a strong fourth quarter finish in a challenging year. In 2023, we posted another year of record EBITDA, while also making great strides toward our long-term.
Source: Business Wire
Tue, 20 Feb 2024 07:00:00 -0500
Sentiment: Neutral
Instituions Institution %: 102.548
Last QTR Institution change: 1107442

Insiders
Insiders %: 1.285
Insiders Purchases last QTR: 720
Insiders Sales last QTR: 5650
Insiders Net last QTR: -4930

Analyst Ratings
Target Price: 166.33
Overall Rating: 4.4444
Strong Buys (5): 6
Buys (4): 1
Holds (3): 2
Sells (2): 0
Strong Sells (1): 0

Technicals
52 Week Hi: 158.88
52 Week Low: 109.59
Beta: 1.557
50 Day MA: 143.3792
200 Day MA: 137.2744

Earnings / Revenue Trends
Qtr Earnings Growth YOY: -0.422
Qtr Revenue Growth YOY: -0.022
Forward PE: 14.9701
Trailing PE: 20.6937

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