It says something about Middleby's (NASDAQ:MIDD) valuation that a 20% pullback from its recent 52-week high still has the shares trading at around 15 times forward EBITDA. Then again, this is a company that continues to post organic revenue growth and profit growth well in excess of its industry peers while still looking at a large, mostly unpenetrated global market. While I can't really get all that comfortable with the valuation here, the operational story continues to be one of continued performance.
Another Good Sales Figure, But Margins Come Up Short
Middleby posted almost 14% revenue growth this quarter, marking at least the ninth straight quarterly top-line beat (and that streak may well go back further, but...
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