NEW YORK ( TheStreet) -- Middleby Corporation (Nasdaq: MIDD) hit a new 52-week high Thursday as it is currently trading at $98.18, above its previous 52-week high of $98 with 14,929 shares traded as of 11:07 a.m. ET. Average volume has been 98,100 shares over the past 30 days. Middleby has a market cap of $1.77 billion and is part of the industrial goods sector and industrial industry. Shares are up 2.6% year to date as of the close of trading on Wednesday. The Middleby Corporation, through its subsidiaries, engages in the design, manufacture, and sale of commercial foodservice and food processing equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. The company has a P/E ratio of 21.4, equal to the average industrial industry P/E ratio and above the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Middleby as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, robust revenue growth, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Middleby Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.