Multiple insider buys by three or more insiders is usually a very good sign. Here, we've had three insiders each buying shares (not option grants) in the last week. Something good is very likely on the horizon. It may take six months or so to "materialize" but I think they know more then we all do. I'm happy holding here.
Just google the firm that downgraded MIDD and you'll see everything you need to know. As I've posted previously, any price below $220 is a great entry point....my view still stands...but, as always, do your own DD.
MIDD shot out the lights in the recently reported third quarter, handily beating estimates. At the same time, if I have this right, they suggested 4th quarter results will not be quite as robust because some business that might have showed up in the fourth Q got moved to the third...because customers really wanted MIDD equipment ASAP.
So, while the longer-term 20% EPS growth trend actually improved in the third quarter, it will slow in the fourth as those advance orders will not be there....but the longer-term story remains intact. The market appears to have interpreted this negatively when, in fact, customers requesting faster deliveries is actually a positive endorsement for the company's products. Prices below $220 would appear to be great entry points.