MIDD Stock Summary and Trading Ideas (Middleby | NASDAQ:MIDD)

The Middleby Corp is engaged in designing, manufacturing, marketing, distribution and service of a broad line of foodservice equipment used in all types of commercial restaurants and institutional kitchens, food preparation, cooking, baking, chilling and packaging equipment for food processing operations, and premium kitchen equipment including ranges, ovens, refrigerators, ventilation, dishwashers and outdoor cooking equipment used in the residential market. The company conducts its business through three principal business segments namely the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group. The firm derives majority revenue from Commercial Foodservice Equipment Group segment.

Middleby trades on the NASDAQ stock market under the symbol MIDD.

As of May 1, 2024, MIDD stock price declined to $137.51 with 379,811 million shares trading.

MIDD has a beta of 1.39, meaning it tends to be more sensitive to market movements. MIDD has a correlation of 0.48 to the broad based SPY ETF.

MIDD has a market cap of $7.37 billion. This is considered a Mid Cap stock.

Last quarter Middleby reported $1 billion in Revenue and $2.65 earnings per share. This fell short of revenue expectation by $-9 million and exceeded earnings estimates by $.21.

In the last 3 years, MIDD stock traded as high as $201.34 and as low as $109.59.

The top ETF exchange traded funds that MIDD belongs to (by Net Assets): VTI, IJH, VB, VXF, VBR.

MIDD has underperformed the market in the last year with a price return of -2.4% while the SPY ETF gained +21.9%. MIDD has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -5.2% and -3.8%, respectively, while the SPY returned +2.3% and -0.6%, respectively.

MIDD support price is $136.68 and resistance is $141.26 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MIDD stock will trade within this expected range on the day.