
Middleby (MIDD) Stock Forecast & Price Target
Middleby (MIDD) Analyst Ratings
Bulls say
Middleby Corp demonstrated a robust financial performance in 2024, highlighted by a significant revenue increase of 29% year-over-year, rebounding from a decline of 3% in 2023. The company's Canadian sales surged by 60%, rising from $1.1 billion in 2020 to $1.7 billion in 2024, indicating a strong market presence and effective expansion strategies. Additionally, Middleby Corp experienced a market share gain of 135 basis points, concluding 2024 with a market share of 7.7%, up from 6.4% in the previous year, reflecting its competitiveness and growth potential in the foodservice equipment sector.
Bears say
Middleby Corp's Commercial Foodservice Equipment Group reported a significant decline in organic sales of -5.5% in Q2, primarily due to decreased demand from major chain customers that have been impacted by reduced traffic and ongoing cost pressures. The mixed same-store sales (SSS) performance among these key clients—where brands like Pizza Hut and KFC experienced declines of -5% while Taco Bell saw a modest increase of +4%—highlights the inconsistent recovery and challenges within the foodservice market. The overall trend of traffic declines among the majority of its premier customers suggests a potentially difficult operational environment moving forward, contributing to a negative outlook for the company's stock.
This aggregate rating is based on analysts' research of Middleby and is not a guaranteed prediction by Public.com or investment advice.
Middleby (MIDD) Analyst Forecast & Price Prediction
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