Yahoo Finance Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Middleby (MIDD)
Elgin, IL-based The Middleby Corporation provides cooking, warming, food preparation and packaging equipment to commercial, industrial processing and residential markets. Formerly known as Oven Company, it was acquired by TMC Industries Ltd. in 1983. Post the acquisition, the company's name was changed to Middleby Corporation in 1985.
MIDD sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is up 0.4% and up 2.3% over the past one-week and four-week period, respectively, and Middleby has lost 8.1% in the last one-year period as well. Additionally, an average of 373,055.75 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2023, one analyst revised their earnings estimate higher in the last 60 days for MIDD, while the Zacks Consensus Estimate has increased $0.01 to $9.80 per share. MIDD also boasts an average earnings surprise of 0.1%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding MIDD to their portfolios.
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The Middleby Corporation (MIDD) : Free Stock Analysis Report
