Today Middleby Corporation (MIDD) Hits New Lifetime High

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Middleby Corporation ( MIDD) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Middleby Corporation as such a stock due to the following factors:

  • MIDD has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $27.5 million.
  • MIDD has traded 3,830 shares today.
  • MIDD is trading at a new lifetime high.

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More details on MIDD:

The Middleby Corporation designs, manufactures, markets, distributes, and services commercial foodservice and food processing equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. MIDD has a PE ratio of 32.9. Currently there are 2 analysts that rate Middleby Corporation a buy, 1 analyst rates it a sell, and 2 rate it a hold.

The average volume for Middleby Corporation has been 107,700 shares per day over the past 30 days. Middleby has a market cap of $4.8 billion and is part of the industrial goods sector and industrial industry. The stock has a beta of 0.94 and a short float of 2.8% with 4.63 days to cover. Shares are up 4.3% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Middleby Corporation as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and good cash flow from operations. 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.

Highlights from the ratings report include:
  • The revenue growth greatly exceeded the industry average of 21.9%. Since the same quarter one year prior, revenues rose by 39.7%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • MIDDLEBY CORP has improved earnings per share by 36.3% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, MIDDLEBY CORP increased its bottom line by earning $6.50 versus $5.16 in the prior year. This year, the market expects an improvement in earnings ($8.04 versus $6.50).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Machinery industry. The net income increased by 37.5% when compared to the same quarter one year prior, rising from $29.77 million to $40.94 million.
  • 41.84% is the gross profit margin for MIDDLEBY CORP which we consider to be strong. It has increased from the same quarter the previous year. Along with this, the net profit margin of 11.37% is above that of the industry average.
  • Net operating cash flow has significantly increased by 50.05% to $59.57 million when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 35.47%.

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