Strength Seen in Middleby (MIDD): Can Its 5.5% Jump Turn into More Strength?

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Middleby's rally is largely driven by optimism regarding the company's focus on launching new products and upgrading the existing ones per the industry trend. Also, the acquisition of Germany-based GBT GmbH Bakery Technology bodes well. For Middleby, the consensus EPS esti ...