In "One Up on Wall Street", Peter Lynch posits that often it is the "boring", underfollowed companies that produce market crushing returns. Middleby Corporation is a $700 million (EV) company in the dull business of building commercial kitchen appliances.
Middleby equipment, according to the CEO, is used in approximately 1/3 of all commercial kitchens in the US. Further, the company is constantly innovating, creating better ovens that cook faster and more efficiently.
MIDD has grown revenues at over 15% over the last few years and earnings by 25%.
Middleby should be able to continue to grow over the next several years along with the commercial restaurant industry, both domestically and internationally.
$37.98 (10/03/06)
