NEW YORK ( TheStreet) -- Middleby Corporation (Nasdaq: MIDD) hit a new 52-week high Wednesday as it traded at $92.26 compared with its previous 52-Week high of $91.95. Middleby is changing hands at $91.84 with 5,211 shares traded as of 9:31 a.m. ET. Average volume has been 115,800 shares over the past 30 days. Middleby has a market cap of $1.7 billion and is part of the industrial goods sector and industrial industry. Shares are up 7.8% year to date as of the close of trading on Tuesday. 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 22.7, equal to the average industrial industry P/E ratio and above the S&P 500 P/E ratio of 16.1.
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TheStreet Ratings rates Middleby as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, revenue growth, expanding profit margins and good cash flow from operations. 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. See all 52-week high stocks or get investment ideas from our investment research center.