NEW YORK ( TheStreet) -- Middleby Corporation (Nasdaq: MIDD) hit a new 52-week high Friday as it traded at $89.26 compared with its previous 52-Week high of $88.83. Middleby is changing hands at $88.97 with 14,007 shares traded as of 11 a.m. ET. Average volume has been 104,600 shares over the past 30 days. Middleby has a market cap of $1.6 billion and is part of the industrial goods sector and industrial industry. Shares are up 4.6% year to date as of the close of trading on Thursday.

The Middleby Corporation, through its subsidiaries, engages in the design, manufacture, and sale of commercial foodservice and food processing equipment. The company's Commercial Foodservice Equipment group manufactures cooking equipment for restaurants and institutional kitchens. The company has a P/E ratio of 23.3, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 23.5.

TheStreet Ratings rates Middleby as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Middleby Ratings Report.
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