
Middleby (MIDD) Stock Forecast & Price Target
Middleby (MIDD) Analyst Ratings
Bulls say
Middleby's stock outlook is bolstered by a substantial revenue increase of 29% year-over-year in 2024, recovering from a previous decline in 2023 and demonstrating resilience following a strong performance in 2022. Furthermore, sales in Canada have experienced significant growth, nearly doubling from $1.1 billion in 2020 to $1.7 billion in 2024, indicating robust market demand and penetration. Additionally, the company has captured 135 basis points of market share, reaching a total of 7.7% in 2024, reflecting its competitive strength within the foodservice equipment industry.
Bears say
Middleby Corp's outlook is negatively impacted by a decrease in organic sales of 5.5% in the Commercial Foodservice Equipment Group due to reduced demand from major chain customers facing traffic declines and cost pressures. The performance of these customers was inconsistent, with some, like Pizza Hut and KFC, reporting a 5% decline in same-store sales, while others, such as Taco Bell, saw a 4% increase, yet overall traffic trends remain negative. This adverse sales environment suggests ongoing challenges for Middleby Corp in maintaining revenue growth amid changing market dynamics.
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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