Here's Why Middleby Stock Is an Opportunity After This Week's Drop
Middleby stock looks like a good buy after a big spin-off.
Overview
Middleby (NASDAQ: MIDD) has always been a relatively difficult business to evaluate. Its acquisitive approach leads to constantly changing and moving parts. Long-time shareholders have been well rewarded, though.
Through July 6, when it spun off its food processing unit, Middleby's stock has more than doubled the S&P 500 index's return over the past 20 years, soaring 1,150%. After this week's first earnings report since the spin-off, though, shares sank 12.3%, according to data provided by S&P Global Market Intelligence.
With a simplified structure and newly raised guidance, this week's drop looks like a great chance for investors to own Middleby.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.