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The Middleby Corporation (MIDD) designs, manufactures, markets, distributes, and services commercial foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America.
The companys Commercial Foodservice Equipment Group segment offers cooking and warming equipment for quick-service restaurants, full-service restaurants, convenience stores, retail outlets, hotels, and other institutions. This segment provides conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; and ranges, fryers, rethermalizers, steam cooking equipment, warming equipment, heated cabinets, charbroliers, ventless cooking systems, induction cooking equipment, countertop cooking equipment, toasters, professional refrigerators, blast chillers, ice machines, freezers, and beverage dispensing equipment.
The companys Food Processing Equipment Group segment offers processing solutions for customers producing pre-cooked meat products, such as hot dogs, dinner sausages, poultry, and lunchmeats, as well as baked goods, including muffins, cookies, and bread. This segment offers batch, baking, proofing, conveyor, and continuous processing ovens; frying systems and automated thermal processing systems; grinders, slicers, emulsifiers, mixers, blenders, battering and breading equipment, water cutting systems, food presses, and forming equipment; and various food safety, food handling, freezing, and packaging equipment.
The Middleby Corporations Residential Kitchen Equipment Group segment manufactures, sells, and distributes kitchen equipment comprising ranges, ovens, refrigerators, dishwashers, microwaves, cooktops, wine coolers, ventilation equipment, and outdoor equipment for the residential market.
Shares have formed a bullish "cup and handle" and are on the cusp of breaking out of this formation. Higher share prices are expected for this stock.
52-Weeks Trading Range: $79.11 - $141.29
Entry Point: $140.00
Stop Loss: $133.00
Target Pirce: $154.00
MIDD closed at $133.08
