Middleby Corp (MIDD)
Middleby Corporation designs, manufactures, markets, distributes and services a variety of residential kitchen, food processing and foodservice equipment in the United States, Canada, Asia, Europe, the Middle East and Latin America. The company is headquartered in Elgin, Illinois.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 8.28% per annum.
- MIDD price at the close of November 19, 2024 was $136.33 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 1.46% per annum.
- MIDD price at the close of November 19, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of MIDD price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: March 1, 2021
End date: November 19, 2024
a = 5.2779
b = -0.0002
s = 0.0907
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0002) – 1
= -8.28%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0907) – 1
= 43.74%
March 1, 2021 calculations
Top border of price channel:
Exp(Y319)
= Exp(a + b × X319 + 2 × s)
= Exp(a + b × 467 + 2 × s)
= Exp(5.2779 + -0.0002 × 467 + 2 × 0.0907)
= Exp(5.3487)
= $210.34
Bottom border of price channel:
Exp(Y319)
= Exp(a + b × X319 – 2 × s)
= Exp(a + b × 467 – 2 × s)
= Exp(5.2779 + -0.0002 × 467 – 2 × 0.0907)
= Exp(4.9859)
= $146.34
November 19, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(5.2779 + -0.0002 × 1,826 + 2 × 0.0907)
= Exp(5.0269)
= $152.45
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(5.2779 + -0.0002 × 1,826 – 2 × 0.0907)
= Exp(4.6640)
= $106.06
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 8.28% per annum.
- MIDD price at the close of November 19, 2024 was $136.33 and was inside the primary price channel.
Secondary Trend
Start date: May 10, 2022
End date: November 19, 2024
a = 4.9862
b = 0.0000
s = 0.0701
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0000) – 1
= -1.46%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0701) – 1
= 32.37%
May 10, 2022 calculations
Top border of price channel:
Exp(Y621)
= Exp(a + b × X621 + 2 × s)
= Exp(a + b × 902 + 2 × s)
= Exp(4.9862 + 0.0000 × 902 + 2 × 0.0701)
= Exp(5.0901)
= $162.40
Bottom border of price channel:
Exp(Y621)
= Exp(a + b × X621 – 2 × s)
= Exp(a + b × 902 – 2 × s)
= Exp(4.9862 + 0.0000 × 902 – 2 × 0.0701)
= Exp(4.8097)
= $122.69
November 19, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(4.9862 + 0.0000 × 1,826 + 2 × 0.0701)
= Exp(5.0529)
= $156.48
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.9862 + 0.0000 × 1,826 – 2 × 0.0701)
= Exp(4.7725)
= $118.21
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 1.46% per annum.
- MIDD price at the close of November 19, 2024 was inside the secondary price channel.