Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for The Middleby Corp (NASDAQ: MIDD) weakened during the last several trading days. MIDD’s current Value Trend Rating is C and the prior Rating was B. Details supporting this lower rating are included in our next report.
Recent Price Action
The Middleby Corp (NASDAQ: MIDD) stock rose modestly by 0.6% on 4/8/24. The stock closed at $151.64. However, exceptionally low trading volume at 44% of normal accompanied the advance. The stock has been strong relative to the market over the last nine months but has declined -5.7% during the last week.
Current PriceTarget Research Rating
MIDD’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Middleby has a current Value Trend Rating of C (High Neutral). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Middleby has a neutral Appreciation Score of 49 but a good Power Rating of 72, triggering the High Neutral Value Trend Rating.
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