SXI - The Middleby Corporation: Some Positive News Early In 2019
The Middleby Corporation (MIDD) had some big news in store for investors late February as it announced a bolt-on acquisition alongside the release of the full year results of 2018. The results were largely welcomed by investors with organic growth accelerating a bit, as management actually announced another acquisition of a company with some challenges, relatively soon after last year's Taylor deal.
I continue to reiterate that valuations continue to come down, yet reflective of uneven organic growth performance, management turnover, and higher leverage, I am still not in any rush to buy