Midera Food Processing (NASDAQ:MFP) Hits New 1-Year High – Should You Buy?

Midera Food Processing (NASDAQ:MFP) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $50.50 and last traded at $49.98, with a volume of 33950 shares. The stock had previously closed at $48.95.

Wall Street Analyst Weigh In

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

Midera Food Processing Stock Up 3.7%

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 Activity at Midera Food Processing

In related news, Director Robert A. Nerbonne purchased 10,900 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of $45.05 per share, for a total transaction of $491,045.00. Following the purchase, the director directly owned 32,371 shares of the company’s stock, valued at approximately $1,458,313.55. This represents a 50.77% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Midera Food Processing Company Profile

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.