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It looks like the economy finally caught up with Middleby (NASD: MIDD) in the second quarter. After their first quarter, it looked as if they could defy the gravity of the economy. In the second quarter, however, sales declined 8.6% and earnings fell from $0.99 per share a year ago to $0.74 per share in the current quarter. This sounds bad, but the sales numbers are actually worse.

The Middleby Corporation (MIDD) is another company tied to the retail sector which has seen its stock improve significantly over the past few months.  In March investors were panicking and selling stock as fast as they could pushing the price to a low of $20.45.  Since that time the stock has rebounded to reach a high of $50 - nearly a 150% return in a few short months.  That’s quite an incredible gain for a boring company which makes ovens for restaurants and food processing customers. 

The Middleby Corporation (MIDD) is another company tied to the retail sector which has seen its stock improve significantly over the past few months. In March, investors were panicking and selling stock as fast as they could pushing the price to a low of $20.45. Since that time, the stock has rebounded to reach a high of $50 - nearly a 150% return in a few short months. That’s quite an incredible gain for a boring company which makes ovens for restaurants and food processing customers.

The Middleby Corporation (MIDD) is another company tied to the retail sector which has seen its stock improve significantly over the past few months.  In March investors were panicking and selling stock as fast as they could pushing the price to a low of $20.45.  Since that time the stock has rebounded to reach a high of $50 - nearly a 150% return in a few short months.  That’s quite an incredible gain for a boring company which makes ovens for restaurants and food processing customers. 

Oven-maker Middleby (MIDD) has a record of rising earnings and a strong cash flow. The company recently posted its 26th consecutive year-on-year gain in quarterly earnings, and net income rose 36% in Q2. Yet, the stock fell from $78 at the end of the year to the upper 30s in July, and has only recovered as far as the mid-50s. Short trades make up almost 35% of the 16M share float. According to Barron's, this could be a good opportunity to buy the stock at a reduced price.