Added to YB: 2026-07-13
Pitch date: 2026-05-06
MIDD [bullish]
The Middleby Corporation
+5.75%
current return
Author Info
No bio for this author
Company Info
The Middleby Corporation operates in the foodservice industry worldwide. The company develops and manufactures a line of solutions used in commercial foodservice and food processing.
Market Cap
$6.1B
Pitch Price
$128.30
Price Target
199.00 (+47%)
Dividend
N/A
EV/EBITDA
10.78
P/E
18.48
EV/Sales
2.37
Sector
Machinery
Category
special_situation
The Middleby Corporation - $MIDD
MIDD: Commercial foodservice leader at ~11x EBITDA, discount to peers/self. Thesis: deferred restaurant equipment replacement cycle inflecting, secular automation/beverage growth, activist Garden Investments driving capital allocation shift (10% buyback, ROIC metrics). FP spin-off 1H'26 + RK JV sale to 26North at 12x cleans up portfolio. SOTP implies $199 (40% upside from $142). Base case 18.5% return on 12x 2028 CFS EBITDA. Risk: tariffs (overstated).
Read full article (7 min)