Stock Rating Upgrade
The Value Trend Rating for The Middleby Corp (NASDAQ: MIDD) improved in recent days from C to B reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
The Middleby Corp (NASDAQ: MIDD) stock declined modestly by -1.1% on 5/1/24. The stock closed at $137.51. Moreover, trading volume in this decline was above average at 128% of normal. Relative to the market the stock has been strong over the last nine months but has declined -5.4% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, MIDD is expected to continue to be an important Value Builder.
Middleby has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Middleby has a neutral Appreciation Score of 52 but a good Power Rating of 73, with the Positive Value Trend Rating the result.
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