mid-cap stocks Digi International (NASDAQ: DGII), Lam Weston Holdings (NYSE: LW) When Wingstop (NASDAQ: WING) All recent volumes have risen despite the overall market decline.
Overall, mid-cap stocks are marginally ahead of the S&P 500. SPDR S&P MidCap 400 ETF (NYSEARCA: MDY) is up 5.53% so far this week, but its large-cap SPDR S&P 500 ETF (ASX: SPY) is up 4.48%.
Mid-cap stocks are typically companies with market caps between $2 billion and $10 billion. They often have fewer free floats than are found in larger stocks. Become.
Digi International Almost triple Wednesday’s average sales, up 2.34%.
- 1 month: +16.19%
- Three months: +58.88
- year to date: +53.32
The Minnesota-based company specializes in IoT, connecting products, apps, and services through a variety of wireless devices. These devices may have factory and industrial settings. Home applications such as appliances and security systems. Automotive gear, among many other examples.
Digi International rose 15.66% on Aug. 4, topping profit and earnings views in the company’s financial third quarter report, as confirmed using MarketBeat data for the stock.
Revenue growth has accelerated from 13% to 80% over the last two quarters, and revenue growth has accelerated from 8% to 31% over the last three quarters. Three-year annual profit growth of 34%, with revenue up 12%.
That level of fundamental strength is driving the stock’s rally. Increased Q4 guidance is also helpful.
Technically, this stock is in the buy range, but we continue to recognize broader market volatility that could pull it down, and any stock has fallen sharply.
Ram Weston has a decidedly humble business of manufacturing, packaging and distributing frozen potato products to restaurants and through its own brand to consumers. But the demand for potatoes is clearly high. Shares he rose 4.19% on Monday after a better-than-expected first quarter.
Earnings of $0.75 per share increased 317% year over year. According to Lamb Weston’s MarketBeat earnings data, the company cut his view by $0.26 per share. Revenue was a bit disappointing, with $1.13 billion for him compared to analysts’ expectations of $1.14 billion. Still, it was a 14% increase over the previous year.
Other packaged food inventories have performed well recently, with the industry as a whole being one of the leaders.Thursday, large food company Conagra (NYSE: CAG) It reported earnings and earnings that surpassed Wall Street’s view.
Lam Weston shares rose on Wednesday’s gains and rose in Thursday morning trading. Analysts expect the company’s revenue to grow 36% for the full year, which is fiscal 2023. Next year, it is expected to increase another 32% to $3.72. MarketBeat data shows that this kind of potential is attracting institutional investors.
Another food-related mid-cap gainer of the week is restaurant franchisers. wing stop.
There was no specific company news, but the stock has been receiving aggressive attention from Wall Street recently, according to MarketBeat analyst data for the stock.Last month, Stevens opened coverage with an Overweight rating and Wedbush boosted its price target with an Outperform rating.
As MarketBeat has previously noted, Wingstop is one food stock that is capitalizing on consumers’ willingness to continue buying food, including eating out.
The consensus rating is ‘moderate buy’ with a target price of $138.65 and a potential upside of 4.21%.
The company plans to report its financial third quarter on October 26, before the opening bell. Analysts expect him to earn $0.35 per share on earnings of $89.3 million. They increase both the top line and the bottom line.
Earnings data compiled by MarketBeat showed that Wingstop beat its earnings guidance in the most recent quarter, but revenue growth was sluggish. That didn’t stop investors from piling up as the profit margin far exceeded expectations.