
Middleby (MIDD) Stock Forecast & Price Target
Middleby (MIDD) Analyst Ratings
Bulls say
Middleby Corp demonstrated robust performance with a revenue increase of 29% year-over-year in 2024, rebounding from a decline in the previous year and indicating strong recovery in demand for its product offerings. Additionally, the company experienced significant growth in Canadian sales, which rose 60% from $1.1 billion in 2020 to $1.7 billion in 2024, reflecting a successful expansion strategy in that market. Furthermore, Middleby Corp improved its market share by 135 basis points in 2024, reaching 7.7%, highlighting its competitive positioning and effective execution in the foodservice and kitchen equipment sectors.
Bears say
Middleby Corp's negative outlook can be attributed to a significant decline in organic sales within its Commercial Foodservice Equipment Group, which dropped by 5.5% in the second quarter, primarily due to reduced demand from key chain customers facing lower traffic and cost pressures. The company’s premier clients exhibited varying same-store sales performance, with notable declines such as Pizza Hut and KFC declining by 5%, highlighting broader traffic issues across the sector. These indicators reflect ongoing challenges in the commercial restaurant market that could adversely impact Middleby’s revenue 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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