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Middleby (MIDD) Upgraded to Buy on Strong Growth Drivers

On Mar 23, 2016, Zacks Investment Research upgraded Middleby Corp. MIDD to a Zacks Rank #2 (Buy) from a Zacks Rank #3 (Hold). Going by the Zacks model, companies carrying a Zacks Rank # 2 have better chances of performing than the broader market over the upcoming quarters.

Why the Upgrade?

Middleby is steadily improving its profitability and sales on the back of its solid product portfolio, new product launches as well as diversified business growth. Middleby aims to improve its financial performance as well as customer base over the next five years through suitable business initiatives. The company aims to gain sustainability through food-waste reduction and energy saving. These initiatives are expected to help the organization improve margins and bolster earnings in the upcoming quarters. Moreover, Middleby hopes to generate greater amount of cash flows from its operating activities on the back of efficient cost-saving strategies. The company aims to utilize the savings for lucrative capital deployment programs to improve its shareholders' returns in the near future. We even believe that the company’s latest acquisition of renowned companies such as Induc Commercial Electronics Co. Ltd. and Follett Corporation would further help in boosting sales in the near term.

Other Stocks to Consider

Other well ranked stocks within the industry include Gorman-Rupp Co. GRC, Kadant Inc. KAI and Luxfer Holdings PLC LXFR. All the three stocks presently sport a Zacks Rank #1 (Strong Buy).

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
MIDDLEBY CORP (MIDD): Free Stock Analysis Report
 
KADANT INC (KAI): Free Stock Analysis Report
 
GORMAN RUPP CO (GRC): Free Stock Analysis Report
 
LUXFER HOLDINGS (LXFR): Free Stock Analysis Report
 
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