Midera Food Processing (NASDAQ:MFP) Shares Gap Up – Time to Buy?

Midera Food Processing (NASDAQ:MFP) gapped up prior to trading on Tuesday. The stock had previously closed at $42.43, but opened at $45.47. Midera Food Processing shares last traded at $46.0420, with a volume of 56,300 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MFP shares. William Blair began coverage on Midera Food Processing in a research report on Tuesday, October 20th. They set an “outperform” rating on the stock. Wall Street Zen raised shares of Midera Food Processing to a “hold” rating in a report on Saturday, August 1st. KeyCorp assumed coverage on shares of Midera Food Processing in a report on Tuesday, August 25th. They issued a “sector weight” rating for the company. Oppenheimer assumed 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, Zacks Research raised shares of Midera Food Processing to a “hold” rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Midera Food Processing currently has an average rating of “Hold” and an average target price of $45.00.

Midera Food Processing Stock Down 2.1%

The company has a current ratio of 1.84, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $42.27.

Insider Activity at Midera Food Processing

In other Midera Food Processing news, Director Robert Nerbonne acquired 10,900 shares of the stock in a transaction dated Monday, August 17th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $1,458,313.55. The trade was a 50.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Trading of Midera Food Processing

Several institutional investors have recently made changes to their positions in MFP. Fort Washington Investment Advisors Inc. OH bought a new stake in Midera Food Processing during the 3rd quarter valued at approximately $27,924,000. Cooke & Bieler LP purchased a new position in Midera Food Processing in the 3rd quarter worth approximately $19,643,000. Mountaineer Partners Management LLC bought a new position in Midera Food Processing in the 3rd quarter worth approximately $11,007,000. Kirr Marbach & Co. LLC IN bought a new position in Midera Food Processing in the 3rd quarter worth approximately $10,743,000. Finally, Russell Investments Group Ltd. bought a new position in Midera Food Processing in the 3rd quarter worth approximately $4,359,000.

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.