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Stock Charts AI Power Rank: 3.9
Power Rank trend -> Falling
09/06/2024 16:00:00 EST
Middleby Corp (MIDD)
Industry: Specialty Industrial Machinery
Follow @stockchartsai on TwitterPrice Support Resistance
In the past 20 trading days, MIDD has been trading in a range between $142.05 and $134.41 (gray range band). Red lines on the chart represent key resistance levels and Green lines represent key support levels. As the price moves above the lines you will notice they turn green and red if price moves below a line.
The AI powered stock chart is in a Red zone currently. We would avoid this stock.
Upside / Downside Potential
Middleby Corp $MIDD entered a Red zone 12 days ago on the AI powered stock chart. Wall Street analysts have an AVG target price $166.33, a potential upside of 25.34% from the recent price of 132.70. The stock is trading 21.33% (potential upside) below its 52 week high of $161.01 and 21.09 % (potential downside) above its 52 week low of $109.59 - based on the recent price.
Company Summary
The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing. The company's Food Processing Equipment Group segment provides batch, baking, proofing, conveyor belt, and continuous processing ovens; frying and automated thermal processing systems; tumblers, massagers, grinders, slicers, reduction and emulsion systems, mixers, and blenders; battering, breading, and seeding equipment; water cutting systems, food presses, food suspension equipment, filling and depositing solutions, and forming equipment; and automated washing systems, auto-guided vehicles, food safety, food handling, freezing, and defrosting and packaging equipment.
News
| Powerhouse Dynamics Returns to FSTEC 2024 for Third Consecutive Year, Showcasing Advanced Open Kitchen IoT Software with AI-Driven Energy Management Visit Booth IA-55 for a Demonstration of the Leading IoT Solution for Foodservice Operators BOSTON , Sept. 4, 2024 /PRNewswire/ -- Powerhouse Dynamics, the leader in Internet of Things (IoT)-based solutions for the foodservice industry, is pleased to announce its return as a key sponsor of the 2024 FSTEC Conference, taking place September 16-18 in Grapevine, Texas. Source: PRNewsWire Wed, 04 Sep 2024 11:30:00 -0400 Sentiment: Neutral |
| Middleby: Rating Upgrade To Neutral Given Recent Results And Macro Developments MIDD upgraded from sell to hold rating due to potential for strong organic growth acceleration in Commercial Foodservice segment. 2Q24 results show decline in revenue, but CF segment EBITDA margin held up well. Macro changes including lower inflation and interest rates may lead to an improved demand environment, but more data needed before confirming growth cycle. Source: Seeking Alpha Thu, 15 Aug 2024 22:41:11 -0400 Sentiment: Positive |
| Middleby (MIDD) Q2 Earnings Beat Estimates, Sales Down Y/Y Middleby's (MIDD) second-quarter 2024 net sales decline 4.7% year over year on account of the lackluster performance of its segments. Source: Zacks Investment Research Fri, 02 Aug 2024 14:10:23 -0400 Sentiment: Neutral |
| Middleby (MIDD) Reports Q2 Earnings: What Key Metrics Have to Say Although the revenue and EPS for Middleby (MIDD) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers. Source: Zacks Investment Research Thu, 01 Aug 2024 10:36:26 -0400 Sentiment: Positive |
| Middleby (MIDD) Q2 Earnings and Revenues Surpass Estimates Middleby (MIDD) came out with quarterly earnings of $2.39 per share, beating the Zacks Consensus Estimate of $2.27 per share. This compares to earnings of $2.47 per share a year ago. Source: Zacks Investment Research Thu, 01 Aug 2024 09:15:34 -0400 Sentiment: Positive |
Technicals 52 Week Hi: 161.015 52 Week Low: 109.59 Beta: 1.58 50 Day MA: 132.8482 200 Day MA: 138.7175 Earnings / Revenue Trends Qtr Earnings Growth YOY: -0.014 Qtr Revenue Growth YOY: -0.047 Forward PE: 12.4069 Trailing PE: 18.5594