What happened Shares of Sysco (NYSE: SYY) fell 36.1% in the first half of 2020, according to data from S&P Global Market Intelligence. Like most stocks in the foodservice industry, Sysco crashed hard in February and March as the COVID-19 pandemic closed restaurants, followed by a solid rebound starting in April. The kitchen equipment and food products distributor simply fell a bit further than its peers in the difficult months. So what The downhill slide started with February's second-quarter report. The results were solid enough, broadly matching Wall Street's expectations, but that was for a reporting period that ended in December 2019, before the coronavirus crisis entered North America. Taking the pandemic into account, Sysco declined to offer near-term guidance figures while reducing operating income expectations for its three-year growth plan. Sysco's shares plunged hard when a few state governments started to close down sit-down dining services in local restaurants and the stock price took a dramatic 19.8% plunge on March 16, when the Center for Disease Control published nationwide social distancing guidelines. Image source: Sysco. Now what Sysco's market bottom fell a couple of days after the CDC proclamation, and the stock has more than doubled from that 52-week trough. Looking ahead, Sysco investors are worried that the restaurant sector's return to full health could take a long time. The step-by-step normalization we have seen so far will limit the foot traffic in sit-down dining locations for many months to come. That will hurt Sysco's business in the short to medium term. On the upside, Sysco runs a tight ship with some of the strongest profit margins in its industry and the balance sheet holds $2.3 billion in cash reserves. This company is poised to survive the COVID-19 storm even if it lasts for years, which makes it a solid buy for long-term investors at these low prices. 10 stocks we like better than SyscoWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Sysco wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Anders Bylund has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source