Middleby (MIDD) shares fell 12.3% this week after the company reported its first earnings since spinning off its food processing business.
Middleby's stock price fell 12.3% this week after the company released its first earnings report since spinning off its food processing business to Midera Food Processing on July 6. Analysts believe that Middleby management's projection of 6% to 8% sales growth for its foodservice business this year, coupled with an earnings per share (EPS) guidance that implies a price-to-earnings (P/E) ratio below 17.5, suggests that this stock price decline may present a buying opportunity for investors.
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