
Middleby (MIDD) Stock Forecast & Price Target
Middleby (MIDD) Analyst Ratings
Bulls say
Middleby Corp demonstrated a robust revenue increase of 29% year-over-year in 2024, reflecting a significant recovery and growth trajectory following a decline in 2023. The company's sales in Canada notably surged by 60% from $1.1 billion in 2020 to $1.7 billion in 2024, indicating strong market demand and expansion in the region. Furthermore, Middleby successfully gained 135 basis points of market share in 2024, bringing its total market share to 7.7%, thereby enhancing its competitive position within the industry.
Bears say
Middleby Corp's Commercial Foodservice Equipment Group experienced a decline in organic sales of 5.5% in Q2, primarily due to decreased demand from its largest chain customers facing lower traffic and rising cost pressures. The performance of these key customers varied, with brands like Pizza Hut and KFC reporting a 5% decline in same-store sales, while Taco Bell saw a modest increase of 4%, indicating a broader trend of traffic declines among the majority of customers. This unfavorable sales environment raises concerns about the company's revenue stability and growth potential moving forward.
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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