Zacks Investment Research upgraded shares of Chef’s Warehouse (NASDAQ:CHEF) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $26.00 price objective on the stock.
According to Zacks, “Chefs’ Warehouse Holdings, LLC is a distributor of specialty food products in the United States. The Company is focused on serving the specific needs of chefs who own and/or operate restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools and specialty food stores. Its product portfolio includes artisan charcuterie, specialty cheeses, unique oils and vinegars, hormone-free protein, truffles, caviar, and chocolate. It also offers cooking oils, butter, eggs, milk, and flour. Chefs’ Warehouse Holdings, LLC is based in Ridgefield, Connecticut. “
A number of other analysts have also weighed in on the company. Canaccord Genuity reiterated a buy rating and issued a $24.00 target price on shares of Chef’s Warehouse in a research note on Wednesday, February 21st. BidaskClub lowered Chef’s Warehouse from a hold rating to a sell rating in a research note on Wednesday, February 7th. Finally, ValuEngine upgraded Chef’s Warehouse from a hold rating to a buy rating in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Chef’s Warehouse presently has an average rating of Buy and an average target price of $22.60.
CHEF stock opened at $23.50 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.80 and a current ratio of 2.74. Chef’s Warehouse has a twelve month low of $11.85 and a twelve month high of $25.93. The firm has a market capitalization of $692.10, a price-to-earnings ratio of 53.41, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85.
Chef’s Warehouse (NASDAQ:CHEF) last released its earnings results on Tuesday, February 20th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Chef’s Warehouse had a return on equity of 5.48% and a net margin of 1.10%. The business had revenue of $357.00 million for the quarter, compared to analyst estimates of $352.95 million. During the same quarter last year, the firm posted $0.18 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. sell-side analysts predict that Chef’s Warehouse will post 0.73 earnings per share for the current fiscal year.
In other news, General Counsel Alexandros Aldous sold 9,095 shares of the stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $25.00, for a total transaction of $227,375.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 22.40% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of CHEF. State Street Corp grew its position in shares of Chef’s Warehouse by 7.3% during the 2nd quarter. State Street Corp now owns 344,769 shares of the company’s stock worth $4,486,000 after buying an additional 23,492 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Chef’s Warehouse by 3.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,943 shares of the company’s stock worth $221,000 after buying an additional 555 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Chef’s Warehouse during the 3rd quarter worth $3,124,000. Macquarie Group Ltd. bought a new position in shares of Chef’s Warehouse during the 3rd quarter worth $365,000. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Chef’s Warehouse by 6.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 73,405 shares of the company’s stock worth $1,417,000 after buying an additional 4,195 shares in the last quarter. 90.73% of the stock is currently owned by institutional investors and hedge funds.
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About Chef’s Warehouse
The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food products in the United States and Canada. Its product portfolio includes approximately 48,000 stock-keeping units comprising specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.
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