Midera Food Processing (NASDAQ:MFP) Sets New 52-Week High – Still a Buy?

Midera Food Processing (NASDAQ:MFP)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $52.58 and last traded at $48.44, with a volume of 509112 shares. The stock had previously closed at $51.47.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wall Street Zen raised shares of Midera Food Processing to a “hold” rating in a report on Saturday, August 1st. Zacks Research raised shares of Midera Food Processing to a “hold” rating in a research note on Thursday, July 16th. Robert W. Baird started coverage on shares of Midera Food Processing in a research report on Wednesday, July 8th. They set a “neutral” rating and a $40.00 price objective on the stock. Oppenheimer began coverage on shares of Midera Food Processing in a research note on Wednesday, July 15th. They set an “outperform” rating and a $50.00 target price on the stock. Finally, KeyCorp started coverage on shares of Midera Food Processing in a report on Tuesday. They issued a “sector weight” rating for the company. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

Midera Food Processing Price Performance

The company has a quick ratio of 1.15, a current ratio of 1.84 and a debt-to-equity ratio of 0.32.

Insider Transactions at Midera Food Processing

In related news, Director Robert A. Nerbonne acquired 10,900 shares of Midera Food Processing stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $45.05 per share, for a total transaction of $491,045.00. Following the completion of the transaction, the director directly owned 32,371 shares in the company, valued at approximately $1,458,313.55. This represents a 50.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

About Midera Food Processing

Midera Food Processing Inc provides food processing solutions. The Company specializes in the processing of raw material preparation and production and product packaging for retail and food service applications. Midera Food Processing Inc, formerly known as MINERA FOOD PRC, is based in Rosemont, Illinois.