Middleby Corp. ( MIDD ) saw a big move last session, as the company's shares fell by nearly 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for MIDD, as the stock is down nearly 13% since April 16.
This slump shouldn't be too much of a surprise to investors, as the Machinery company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
MIDD currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the General Industrialized Machinery industry include Gorman-Rupp Co. ( GRC ), The Babcock & Wilcox Company ( BWC ) and Illinois Tool Works Inc. ( ITW ). While Gorman-Rupp holds a Zacks Rank #1 (Strong Buy), The Babcock & Wilcox and Illinois Tool carry a Zacks Rank #2 (Buy).
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