The Middleby Corporation (NASDAQ:MIDD) saw a downside of -0.50% to close Friday at $141.95 after subtracting -$0.71 on the day. The 5-day average trading volume is 465,660 shares of the company’s common stock. It has gained $150.41 in the past week and touched a new high 1 time within the past 5 days. An average of 555,710 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 454,666.
MIDD’s 1-month performance is 0.01% or $0.39 on its low of $136.71 reached on 08/03/23. The company’s shares have touched a 52-week low of $122.33 and high of $162.02, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, MIDD has achieved 6.01% or $8.05 and has reached a new high 13 times. However, the current price is down -12.39% from the 52-week high price.
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Insider Transactions
MIDD stock investors last saw insider trading activity on Aug 14.Pool III James K (Chief Technology and*) most recently sold 1,500 shares at $149.01 per share on Aug 14. This transaction cost the insider $223,510. Chief Technology and*, Pool III James K, sold 1,250 shares at a price of $150.78 on Aug 11. Then, on May 23, Director Palisi Chapin Sarah sold 250 shares at a price of $140.94 per share. This transaction amounted to $35,235.
Valuation Metrics
MIDD stock has a beta of 1.53. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.88 while the price-to-book (PB) in the most recent quarter is 2.53, with the price to cash flow ratio at 24.69.
The Middleby Corporation’s quick ratio for the period ended June 29 was 1.10, with the current ratio over the same period at 2.30. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.90, while the total debt to equity was 0.91. In terms of profitability, the gross margin trailing 12 months is 37.50%. The trailing 12-month EBITDA margin is 19.46% while for the period ending June 29, The Middleby Corporation’s operating margin was 17.10%. The firm’s gross profit as reported stood at $1.45 billion against revenue of $4.03 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 3.08% to $116.85 million, while revenue of $99.09 million was 15.2% off the previous quarter. Analysts expected MIDD to announce $2.35 per share in earnings in its latest quarter, but it posted $2.47, representing a 5.10% surprise. EBITDA for the quarter stood at more than $215.6 million. MIDD stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 3.99 billion, with total debt at $2.76 billion. Shareholders hold equity totaling $53.6 million.
Let’s look briefly at The Middleby Corporation (MIDD) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 18 August was 35.59% to suggest the stock is trending Neutral, with historical volatility in this time period at 23.31%.
The stock’s 5-day moving average is $145.38, reflecting a -4.48% or -$6.66 change from its current price. MIDD is currently trading -1.48% above its 20-day SMA, +2.97% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -1.55% and SMA200 by+1.49%.
Stochastic %K and %D was 41.37% and 52.51% and the average true range (ATR) pointed at 3.50. The RSI (14) points at 41.42%, while the 14-day stochastic is at 35.67% with the period’s ATR at 3.51. The stock’s 9-day MACD Oscillator is pointing at -3.24 and -2.61 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for The Middleby Corporation (NASDAQ: MIDD), Canaccord Genuity launched coverage with a Buy rating. Analysts offering their rating for MIDD stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate MIDD as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 6 have offered a “buy” rating.
What is MIDD’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $158.00 and a high of $180.00, with their median price target at $174.00. Looking at these predictions, the average price target given by analysts is for The Middleby Corporation (MIDD) stock is $172.56.
