Middleby (MIDD) Consistent In Performance

Analyst Chas Janich of Wisco Research has maintained the Buy rating on Middleby (NASDAQ: MIDD) since customer cap-ex has been rising, and the company has been turning in consistently good performances. The price target has been maintained at $63 despite a dip in Q1 revenues to the extent of 11.5% that was primarilycaused by the absence of large KFC sales.

Operating margins have improved to reach 40%. Middleby’s purchase of PerfectFry complements its range of fryer equipment. Middleby has done well despite dining businesses curtailing their expansion plans in the last year. The recovery in global trends should benefit the company and boost sales.