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The Middleby Corporation (MIDD)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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170.29+1.61 (+0.95%)
As of 12:57PM EDT. Market open.
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  • J
    Interesting video on Taylor made https://youtu.be/SrDEtSlqJC4
  • P
    Path Finder
    $WBT conversation
    $WBT will run to $50, this is 95.5% held by institution and $MIDD is $177 right now, they are heavily invested in this company
  • R
    FYI- - Just another article knocking this stock They have a short position in it. Volume is on the high side. No recovery in site even after a recovery from the lows of the day. Making Lower lows is not good for us longs.

    Prescience Point Capital Management ("Prescience Point"), a private investment manager that focuses on deep investigations of public companies, today published a critical research report supporting its short position in shares of The Middleby Corporation(MIDD) , one of the largest providers of industrial kitchen equipment to quick-and full-service restaurants, retail outlets, and hotels.

    After a months-long investigation that included a deep forensic analysis of the company's financial statements and interviews with key distributors and restaurant industry experts, Prescience Point believes Wall Street is overly optimistic about the company's ability to recover from the devastating impact that the COVID-19 pandemic will have on the restaurant industry.

    Middleby (MIDD) had already been struggling before COVID-19 as many of its large restaurant chain customers pushed out capex and delayed projects. For years, Middleby(MIDD) was able to hide deteriorating organic growth with progressively larger but lower quality acquisitions. As demand starts to disappear and leverage nears all-time high, Middleby's(MIDD) debt-fueled roll-up strategy is set to implode.

    Restaurants are permanently closing their doors at a record pace, over-levered chains are cutting unit growth & capex, large franchisee groups teeter on the edge of bankruptcy, and a flood of lightly used equipment is about to hit the market. Yet, Wall Street expects Middleby(MIDD) to have a "V" shaped recovery and post record profit and margins in fiscal year 2021. We believe this is nearly impossible.

    According to interviews with key players, foodservice equipment purchases are down as much as 85% and many large foodservice equipment distributors are gearing up for a wave of used equipment about to hit the market. In addition, we were told some distributors were working with suppliers to return inventory as the new equipment market could all but dry up.

    We value Middleby's(MIDD) shares at $26.91, implying 50% downside.

    "Unfortunately, the coronavirus pandemic has devastated the restaurant industry and Middleby(MIDD), with its giant debt load and declining organic growth, will be severely impacted," said Eiad Asbahi, Founder and Portfolio Manager of Prescience Point. "Even though shares have already fallen 50% this year, we believe investors are still too optimistic in their projections for Middleby's(MIDD) sales and profits and the stock could be cut in half again."
  • s
    Reiterated by KeyBanc Overweight USD 195 » USD 210
    Target Raised by JPMorgan Chase Positive » Neutral USD 155 » USD 169
  • A
    So explain to me how this is even a 78 stock, when no one will even try to venture out not because of BS covid restrictions but because of the riots. I guess everybody got alot money to spend on SubZ and Viking ranges at home. This stock sb at best $10stock, nevermind most of its Equity is made up of Intangible Assets that need a very real impairment check. The book on this sb below $5.
  • E
    This company practically owns every Foodservice equipment Mfg. They have been buying up big brands for years and gaining market share. The tariffs are being passed on through the channel with price increases. I am a buyer!
  • J
    I do not understand why the miss.
    I have had this stock for over 10 years with excellent returns
  • g
    Listened to earnings call today. Superior management team that skillfully navigated through pandemic
  • b
    I just listened to the earnings call. Viking is officially growing again (boy that was a painful few years), and Mr. Bassoul stated that 2018 will mark a business-wide return to growth for the company following a 2017 that saw efforts to reassure dealers and distributors spooked by fears of competition from the QualServ acquisition and a consolidation of their sales organization that greatly lowered headcount and brought in newly trained recruits. Mr. Bassoul needs badly to score a home run this year to keep shareholders onside.
  • g
    Outstanding quarterly results and outlook. Superior management team.
  • J
    buying opportunity
  • g
    Another great quarter. Stock has tripled since last year.
  • e
    Great returns over the long term, but flat for past 5 years. This may not be the thing anymore.....
  • g
    Still 1/2 of 52 week high of $141.
  • R
    Heading to $115. Nothing to support MIDD but hot air. Company must be very concerned about Tariffs. Will need to reevaluate their numbers soon due to low overseas sales.
  • D
    They buying so much of debt? Why?.....
  • a
    I've had this stock for many years. It preformed well for most of that time. But, the last couple of years are flat, and they refuse to pay dividends. So, why am I keeping this stock when other are growing or at least, paying good dividends? I struggle for an answer to that question...
  • b
    MIDD conundrum... to buy or not to buy as the stock nears 100. If it fails support here the next floor down is ~82.
  • R
    What gives with this one??? Mkt up 600 points and it could not even hold its gains how pathetic (should of been up near 60 today). Very sad this might be a very short term trade rather than a buy and hold, Good luck to us longs.
  • A
    With a decent earnings report (which I expect) I can see us at $145-150 by tomorrow,