
Middleby (MIDD) Stock Forecast & Price Target
Middleby (MIDD) Analyst Ratings
Bulls say
Middleby Corp demonstrated a robust performance with a revenue increase of 29% year-over-year in 2024, rebounding from a decline of 3% in 2023 and maintaining strong growth of 41% in 2022. Additionally, the company’s sales in Canada saw significant growth, climbing 60% from $1.1 billion in 2020 to $1.7 billion in 2024, indicating a strong regional market expansion. Furthermore, Middleby successfully gained 135 basis points of market share in 2024, reaching 7.7%, a notable improvement from 6.4% in 2023, reflecting positive competitive positioning within the foodservice equipment industry.
Bears say
Middleby's stock outlook is negatively influenced by a notable decline in organic sales within its Commercial Foodservice Equipment Group, which experienced a fall of -5.5% in Q2 due to decreased demand from major chain customers facing reduced traffic and rising cost pressures. The mixed same-store sales results among key clients, such as Pizza Hut and KFC reporting declines of -5%, reflect broader challenges within the foodservice sector, indicating that many customers are struggling with traffic declines. This situation raises concerns about the sustainability of revenue streams for Middleby, particularly given that the majority of the company's revenue is derived from this segment.
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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