
Middleby (MIDD) Stock Forecast & Price Target
Middleby (MIDD) Analyst Ratings
Bulls say
Middleby's financial outlook appears positive, bolstered by a significant revenue growth of 29% year-over-year in 2024, which follows a challenging 2023 and reflects strong resilience and recovery. The company's sales in Canada have also demonstrated robust growth, increasing 60% from $1.1 billion in 2020 to $1.7 billion in 2024, showcasing strong demand in a key market. Additionally, Middleby has expanded its market share, gaining 135 basis points to reach 7.7% in 2024, suggesting improved competitive positioning and profitability prospects within the foodservice equipment sector.
Bears say
Middleby Corp has faced a significant decline in its Commercial Foodservice Equipment Group, evidenced by a 5.5% drop in Q2 organic sales, primarily due to reduced demand from key chain customers experiencing lower customer traffic and financial pressures. The mixed same-store sales performance among these premier clients, with notable traffic declines from major brands like Pizza Hut and KFC, suggests a challenging market environment for the company. This negative trend in customer performance raises concerns about the sustainability of revenue growth and overall financial health for Middleby Corp.
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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