
Middleby (MIDD) Stock Forecast & Price Target
Middleby (MIDD) Analyst Ratings
Bulls say
Middleby Corp has demonstrated strong financial performance, with a remarkable 29% year-over-year revenue growth in 2024, following a challenging year in 2023. The company's sales in Canada have significantly increased by 60% from $1.1 billion in 2020 to $1.7 billion in 2024, highlighting robust demand in this market. Additionally, Middleby has gained 135 basis points of market share in 2024, achieving a total market share of 7.7%, up from 6.4% in the previous year, indicating a positive trend in competitive positioning.
Bears say
Middleby Corp's Commercial Foodservice Equipment Group experienced a significant year-over-year decline in organic sales, reporting a drop of 5.5% in Q2 due to decreased demand from their largest chain customers. These premier customers have reported mixed same-store sales results, indicating that while some brands like Taco Bell showed slight growth of 4%, the majority, including Pizza Hut and KFC, experienced notable declines of 5%. This trend of declining customer traffic and increasing cost pressures poses significant challenges for Middleby, raising concerns about its revenue sustainability and overall financial health.
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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