Chef’s Warehouse (NASDAQ:CHEF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, March 16th. The brokerage presently has a $26.00 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 10.64% from the stock’s current price.
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. “
Several other equities research analysts have also issued reports on CHEF. Canaccord Genuity restated a “buy” rating and issued a $24.00 target price on shares of Chef’s Warehouse in a report on Wednesday, February 21st. BidaskClub lowered shares of Chef’s Warehouse from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Chef’s Warehouse currently has a consensus rating of “Buy” and a consensus target price of $22.60.
CHEF opened at $23.50 on Friday. Chef’s Warehouse has a fifty-two week low of $11.85 and a fifty-two week high of $25.93. The firm has a market cap of $672.08, a P/E ratio of 53.41, a P/E/G ratio of 1.47 and a beta of 0.85. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.74 and a quick ratio of 1.80.
Chef’s Warehouse (NASDAQ:CHEF) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Chef’s Warehouse had a net margin of 1.10% and a return on equity of 5.48%. The business had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $352.95 million. During the same period last year, the company posted $0.18 EPS. The business’s revenue was up 4.1% on a year-over-year basis. research analysts predict that Chef’s Warehouse will post 0.73 EPS for the current year.
In other Chef’s Warehouse news, General Counsel Alexandros Aldous sold 9,095 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The shares were 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 available at the SEC website. Company insiders own 22.40% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Voya Investment Management LLC purchased a new position in shares of Chef’s Warehouse in the 2nd quarter worth approximately $132,000. MetLife Investment Advisors LLC purchased a new position in shares of Chef’s Warehouse in the 4th quarter worth approximately $176,000. Atria Investments LLC purchased a new position in shares of Chef’s Warehouse in the 4th quarter worth approximately $205,000. The Manufacturers Life Insurance Company grew its position in shares of Chef’s Warehouse by 3.4% in 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 during the last quarter. Finally, Comerica Bank purchased a new position in shares of Chef’s Warehouse in the 4th quarter worth approximately $240,000. 90.73% of the stock is currently owned by hedge funds and other institutional investors.
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Chef’s Warehouse Company Profile
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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