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Hot Stocks
Middleby buys ice, soft serve and slush machine maker Icetro, no terms » 08:38
06/30/22
06/30
08:38
06/30/22
08:38
MIDD

Middleby

$125.51 /

-3.755 (-2.90%)

The Middleby Corporation …

The Middleby Corporation announced the acquisition of Icetro, a maker of ice, soft serve and slush machines that are used worldwide in commercial foodservice. With annual sales of approximately $40M, the company is headquartered in South Korea with U.S. operations based in Anaheim, California. "Icetro products are highly complementary to our growing portfolio of Middleby beverage brands. Because of their exceptional products and demonstrated reliability, Icetro machines are approved by numerous regional and global chain customers," said Tim FitzGerald, Middleby CEO. "Icetro expands our offerings in ice, adding a selection of cubed and flaked machines, while their soft serve and slush machines enhance our existing product lines with a collection of countertop equipment. Icetro soft serve technology has heat-treat pasteurization capabilities addressing food safety issues, while reducing cleaning and labor requirements." "Icetro has a modern, state-of-the-art production facility with rigorous quality standards. This acquisition furthers our Asian manufacturing capabilities and provides us with local solutions to support our customers expanding in international markets," Mr. FitzGerald continued.

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MIDD Middleby
$125.51 /

-3.755 (-2.90%)

MIDD Middleby
$125.51 /

-3.755 (-2.90%)

05/16/22 Citi
Middleby recent pullback overdone, says Citi
05/11/22 Baird
Middleby price target lowered to $201 from $211 at Baird
05/11/22 KeyBanc
Middleby price target lowered to $182 from $200 at KeyBanc
04/26/22 KeyBanc
Middleby price target lowered to $200 from $220 at KeyBanc
MIDD Middleby
$125.51 /

-3.755 (-2.90%)

Wednesday
Hot Stocks
Middleby acquires automation solutions firm Proxaut, no terms » 08:37
06/29/22
06/29
08:37
06/29/22
08:37
MIDD

Middleby

$129.20 /

-1.58 (-1.21%)

The Middleby Corporation…

The Middleby Corporation announced the acquisition of Proxaut, a leading manufacturer of Auto Guided Vehicles AGVs for the food industry and industrial processing companies. The company is based in Italy near Bologna with approximately $15M in annual sales. "We are leading the trend for Industry 4.0 in food processing. Our recent strategic investments in automation are coming to fruition, as we see order demands for this technology," said Tim FitzGerald, Middleby CEO. "Middleby's investments in automation and integrated full line solutions are driving efficiencies and operating benefits for our food processing customers. These proven automation solutions reduce operator efforts and labor needs while increasing production, optimizing space, and streamlining loading between machines."

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MIDD Middleby
$129.20 /

-1.58 (-1.21%)

MIDD Middleby
$129.20 /

-1.58 (-1.21%)

05/16/22 Citi
Middleby recent pullback overdone, says Citi
05/11/22 Baird
Middleby price target lowered to $201 from $211 at Baird
05/11/22 KeyBanc
Middleby price target lowered to $182 from $200 at KeyBanc
04/26/22 KeyBanc
Middleby price target lowered to $200 from $220 at KeyBanc
MIDD Middleby
$129.20 /

-1.58 (-1.21%)

Over a month ago
Recommendations
Illinois Tool Works price target lowered to $180 from $192 at Barclays » 07:34
05/24/22
05/24
07:34
05/24/22
07:34
ITW

Illinois Tool Works

$202.58 /

+0.79 (+0.39%)

Barclays analyst Julian…

Barclays analyst Julian Mitchell lowered the firm's price target on Illinois Tool Works to $180 from $192 and keeps an Underweight rating on the shares. The analyst says risk/reward profiles are improving for the multi-sector industry. While estimates still look high, valuations are being rebased lower and balance sheets are in "reasonable shape," Mitchell tells investors in a research note.

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ITW Illinois Tool Works
$202.58 /

+0.79 (+0.39%)

05/04/22 Credit Suisse
Illinois Tool Works price target lowered to $261 from $267 at Credit Suisse
05/04/22 Barclays
Illinois Tool Works price target lowered to $192 from $200 at Barclays
04/18/22 Stifel
Illinois Tool Works price target lowered to $202 from $242 at Stifel
04/14/22 Deutsche Bank
Illinois Tool Works price target lowered to $226 from $236 at Deutsche Bank
ITW Illinois Tool Works
$202.58 /

+0.79 (+0.39%)

ITW Illinois Tool Works
$202.58 /

+0.79 (+0.39%)

Hot Stocks
Middleby authorizes buyback of up to 2.5M additional shares » 17:35
05/19/22
05/19
17:35
05/19/22
17:35
MIDD

Middleby

$139.95 /

-1.62 (-1.14%)

According to a regulatory…

According to a regulatory filing, on May 16, 2022, The Middleby Corporation's board of directors authorized the repurchase of up to an additional 2,500,000 shares of the company's common stock under the company's existing share repurchase program. As previously reported, in November 2017, the board of directors of the company authorized the repurchase in the aggregate of up to 2,500,000 shares of the company's common stock under the Repurchase Program. As of April 2, 2022, 2,027,577 shares had been purchased under the Repurchase Program and 472,423 shares remained authorized for repurchase.

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MIDD Middleby
$139.95 /

-1.62 (-1.14%)

MIDD Middleby
$139.95 /

-1.62 (-1.14%)

05/16/22 Citi
Middleby recent pullback overdone, says Citi
05/11/22 Baird
Middleby price target lowered to $201 from $211 at Baird
05/11/22 KeyBanc
Middleby price target lowered to $182 from $200 at KeyBanc
04/26/22 KeyBanc
Middleby price target lowered to $200 from $220 at KeyBanc
MIDD Middleby
$139.95 /

-1.62 (-1.14%)

Hot Stocks
Middleby CEO acquires 7,500 common shares » 18:49
05/16/22
05/16
18:49
05/16/22
18:49
MIDD

Middleby

$140.37 /

+0.705 (+0.50%)

In a regulatory filing,…

In a regulatory filing, Middleby CEO Timothy John Fitzgerald disclosed the purchase of 7,500 common shares of the company on May 12 at a price of $132.286 per share.

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MIDD Middleby
$140.37 /

+0.705 (+0.50%)

MIDD Middleby
$140.37 /

+0.705 (+0.50%)

05/16/22 Citi
Middleby recent pullback overdone, says Citi
05/11/22 Baird
Middleby price target lowered to $201 from $211 at Baird
05/11/22 KeyBanc
Middleby price target lowered to $182 from $200 at KeyBanc
04/26/22 KeyBanc
Middleby price target lowered to $200 from $220 at KeyBanc
MIDD Middleby
$140.37 /

+0.705 (+0.50%)

Recommendations
Middleby recent pullback overdone, says Citi » 06:18
05/16/22
05/16
06:18
05/16/22
06:18
MIDD

Middleby

$139.64 /

+7.435 (+5.62%)

Citi analyst Timothy…

Citi analyst Timothy Thein lowered the firm's price target on Middleby to $180 from $190 and keeps a Buy rating on the shares post the Q1 results. The analyst says "slowing in orders come at an unwelcome time for the stock." However, he remains positive on the demand outlook for commercial equipment, which he expects will be more resilient than the stock's "discounted relative valuation seems to imply." Thein views the recent pullback in shares of Middleby as overdone.

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MIDD Middleby
$139.64 /

+7.435 (+5.62%)

MIDD Middleby
$139.64 /

+7.435 (+5.62%)

05/11/22 Baird
Middleby price target lowered to $201 from $211 at Baird
05/11/22 KeyBanc
Middleby price target lowered to $182 from $200 at KeyBanc
04/26/22 KeyBanc
Middleby price target lowered to $200 from $220 at KeyBanc
04/04/22 Citi
Middleby price target lowered to $190 from $215 at Citi
MIDD Middleby
$139.64 /

+7.435 (+5.62%)

Recommendations
Middleby price target lowered to $201 from $211 at Baird » 07:12
05/11/22
05/11
07:12
05/11/22
07:12
MIDD

Middleby

$139.95 /

-11.39 (-7.53%)

Baird analyst Mircea…

Baird analyst Mircea Dobre lowered the firm's price target on Middleby to $201 from $211 and keeps an Outperform rating on the shares. The analyst noted the stock has struggled following the Russia/Ukraine crisis as investors broadly anticipated further push-out of price/cost parity. He said the 1Q22 commentary acknowledged the incremental cost headwinds and the stock was further impacted by demand softness emerging in Residential.

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MIDD Middleby
$139.95 /

-11.39 (-7.53%)

MIDD Middleby
$139.95 /

-11.39 (-7.53%)

05/11/22 KeyBanc
Middleby price target lowered to $182 from $200 at KeyBanc
04/26/22 KeyBanc
Middleby price target lowered to $200 from $220 at KeyBanc
04/04/22 Citi
Middleby price target lowered to $190 from $215 at Citi
03/28/22 JPMorgan
Middleby price target lowered to $195 from $198 at JPMorgan
MIDD Middleby
$139.95 /

-11.39 (-7.53%)

Recommendations
Middleby price target lowered to $182 from $200 at KeyBanc » 06:59
05/11/22
05/11
06:59
05/11/22
06:59
MIDD

Middleby

$139.95 /

-11.39 (-7.53%)

KeyBanc analyst Jeffrey…

KeyBanc analyst Jeffrey Hammond lowered the firm's price target on Middleby to $182 from $200 to reflect lower EPS and lower peer multiples, while keeping an Overweight rating on the shares following Q1 earnings and conference call. The analyst thought moderation in Residential Kitchen and slower margin inflection was priced in, but investors took issue with Middleby's report. Hammond would be aggressively buying this pullback given his confidence in the durability of a multiyear commercial food equipment cycle and the company's ability to march margins higher into the second half of 2022.

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MIDD Middleby
$139.95 /

-11.39 (-7.53%)

MIDD Middleby
$139.95 /

-11.39 (-7.53%)

04/26/22 KeyBanc
Middleby price target lowered to $200 from $220 at KeyBanc
04/04/22 Citi
Middleby price target lowered to $190 from $215 at Citi
03/28/22 JPMorgan
Middleby price target lowered to $195 from $198 at JPMorgan
02/23/22 JPMorgan
Middleby price target raised to $198 from $194 at JPMorgan
MIDD Middleby
$139.95 /

-11.39 (-7.53%)

Earnings
Middleby reports Q1 adjusted EPS $2.13, consensus $2.10 » 07:13
05/10/22
05/10
07:13
05/10/22
07:13
MIDD

Middleby

$151.08 /

-5.2699 (-3.37%)

Reports Q1 revenue…

Reports Q1 revenue $994.7M, consensus $935.99M. "We started 2022 with another record for quarterly sales and earnings. And, our profitability remained strong, despite continuing inflationary pressures and increasing supply chain challenges. Over the past several quarters we have demonstrated strength in addressing tough circumstances and discipline in managing margins. While in the near term, the challenges are significant, we believe our results will continue to improve in the back half of 2022 and into 2023," said Tim FitzGerald, CEO of the Middleby Corporation. "The underlying fundamentals of our business remain strong. In addition, customers seeking innovations around connectivity, IoT, and automated solutions are helping to drive demand across our three industry-leading segments," Mr. FitzGerald continues. As our record backlog continues to grow, we remain heavily focused on meeting customer demand and attacking operational challenges by proactively managing our supply chain to limit disruptions. We continue to make investments in inventory, people, fabrication equipment, and facilities, in a concerted effort to improve efficiencies, capacities, and our pipeline of developing business opportunities."

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MIDD Middleby
$151.08 /

-5.2699 (-3.37%)

MIDD Middleby
$151.08 /

-5.2699 (-3.37%)

04/26/22 KeyBanc
Middleby price target lowered to $200 from $220 at KeyBanc
04/04/22 Citi
Middleby price target lowered to $190 from $215 at Citi
03/28/22 JPMorgan
Middleby price target lowered to $195 from $198 at JPMorgan
02/23/22 JPMorgan
Middleby price target raised to $198 from $194 at JPMorgan
MIDD Middleby
$151.08 /

-5.2699 (-3.37%)

Recommendations
Illinois Tool Works price target lowered to $261 from $267 at Credit Suisse » 07:10
05/04/22
05/04
07:10
05/04/22
07:10
ITW

Illinois Tool Works

$204.25 /

+4.06 (+2.03%)

Credit Suisse analyst…

Credit Suisse analyst Jamie Cook lowered the firm's price target on Illinois Tool Works to $261 from $267 following quarterly results. The analyst keeps an Outperform rating on the shares.

ShowHide Related Items >><<
ITW Illinois Tool Works
$204.25 /

+4.06 (+2.03%)

05/04/22 Barclays
Illinois Tool Works price target lowered to $192 from $200 at Barclays
04/18/22 Stifel
Illinois Tool Works price target lowered to $202 from $242 at Stifel
04/14/22 Deutsche Bank
Illinois Tool Works price target lowered to $226 from $236 at Deutsche Bank
04/14/22 Deutsche Bank
Illinois Tool Works named short-term sell idea at Deutsche Bank
ITW Illinois Tool Works
$204.25 /

+4.06 (+2.03%)

ITW Illinois Tool Works
$204.25 /

+4.06 (+2.03%)

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