Opinions
Geoff Scott
Middleby Corp.
MIDD-Q
PAST TOP PICK
Mar 20, 2018
$128.540
Stock price when the opinion was issued
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TOP PICK
Restaurant kitchen equipment manufacturer that ventured into residential brands. They own 30-40 commercial equipment brands. They are not a customer facing brand so no one knows of them. They have done 15-20% compounding growth. He thinks they will continue to compound at these rates over a multi year period. (Analysts’ target: $139.86).
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TOP PICK
Makes and sells kitchen equipment. A large chunk is commercial and hospitals. Owns luxury brands like AGA and Viking for consumers. Profitable through the pandemic. Spectacular job of buying niche brands and then expanding products. Double-digit grower, compelling valuation. No dividend. (Analysts’ price target is $217.38)
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PAST TOP PICK
(A Top Pick Apr 09/18, Up 34%)
High-end restaurant kitchen equipment. Covid was a game-changer -- restaurants were just trying to survive, not spend on capex, so revenue growth slowed. Not a great return over that long a time. Really good track record of acquisitions. North of $10B now, so too big for him, but he's always liked management and the asset base.
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(A Top Pick December 27, 2017. Down 4.49%). This is a player in restaurant equipment. They have done a great job deploying capital into complementary kitchen equipment businesses. They do a great sales job, explaining the value of new equipment for water savings, energy savings, etc. Their margins have been under pressure but he believes this will improve over the year.