NEW YORK ( TheStreet) -- Middleby Corporation (Nasdaq: MIDD) hit a new 52-week high Wednesday as it is currently trading at $96.40, above its previous 52-week high of $96.25 with 55,170 shares traded as of 1:24 p.m. ET. Average volume has been 111,300 shares over the past 30 days.

Middleby has a market cap of $1.8 billion and is part of the industrial goods sector and industrial industry. Shares are up 13.9% 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 22.9, equal to the average industrial industry P/E ratio and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Middleby as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Middleby Ratings Report.

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