CT Programmer

Middleby Is Frying the Shorts

Man, I didn't realize how many people DON'T follow MIDD. Fantastic earnings and there's only two press articles about it and one blog entry (this one). 35% short is kind of scary, but I'm not too worried. I had hesitated on this one when Jim Jubak put it in his picks, then watched over the following weeks when it climbed to near 80. Then it came back down as everyone thought "oh, we're in a recession so restaurants are going to suffer, thus Middleby will suffer". I got it for 52 back in June when it came back down, and am I glad I got a second shot at it at a bargain-basement price. Even with today's +10% its still a bargain. I think the shorts are going to get burned on this one. MIDD is solid in its industry, and the fact that they have had 11 positive surprises out of the last 14 quarters would make me think twice about shorting them.