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Broyhill Asset Management: The Middleby Corporation (MIDD) stock surged 31% driven by the recovery in the restaurant services sector.
Charlotte-based Broyhill Asset Management noted in its Q2 2026 investor letter that the recovery in the foodservice industry was the primary driver behind The Middleby Corporation's (Nasdaq: MIDD) 31% stock price increase in the second quarter. The company's commercial foodservice business saw 8% organic revenue growth, and management raised its full-year guidance by approximately 4%. Additionally, The Middleby Corporation's food processing business spin-off was completed on July 6, and most of its residential business has been sold, resulting in a clearer business structure. As of September 14, MIDD's stock price was $109.72.
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