Benchmark Reiterates Buy Rating for Chefs’ Warehouse (NASDAQ:CHEF)

Chefs’ Warehouse (NASDAQ:CHEF)‘s stock had its “buy” rating restated by research analysts at Benchmark in a research note issued to investors on Thursday, Benzinga reports. They currently have a $50.00 target price on the stock. Benchmark’s price target would indicate a potential upside of 32.35% from the stock’s current price.

Other equities analysts have also issued research reports about the company. UBS Group raised their price objective on Chefs’ Warehouse from $36.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. BMO Capital Markets raised their price target on Chefs’ Warehouse from $35.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th.

Chefs’ Warehouse Stock Performance

CHEF stock traded up $0.84 during trading hours on Thursday, hitting $37.78. 371,895 shares of the stock were exchanged, compared to its average volume of 350,811. Chefs’ Warehouse has a 12 month low of $17.29 and a 12 month high of $39.00. The company has a current ratio of 1.92, a quick ratio of 1.16 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $1.50 billion, a P/E ratio of 43.43 and a beta of 2.22. The company has a 50-day simple moving average of $35.81 and a two-hundred day simple moving average of $30.86.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. Chefs’ Warehouse had a net margin of 0.98% and a return on equity of 12.30%. The business had revenue of $874.50 million for the quarter, compared to analyst estimates of $833.25 million. During the same period last year, the firm earned $0.12 earnings per share. Chefs’ Warehouse’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, analysts forecast that Chefs’ Warehouse will post 1.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chefs’ Warehouse

Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Chefs’ Warehouse by 32.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,984 shares of the company’s stock valued at $148,000 after buying an additional 1,713 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new position in Chefs’ Warehouse during the 3rd quarter worth approximately $223,000. Keybank National Association OH lifted its stake in Chefs’ Warehouse by 4.8% in the 3rd quarter. Keybank National Association OH now owns 10,648 shares of the company’s stock valued at $226,000 after purchasing an additional 489 shares during the last quarter. Mutual of America Capital Management LLC acquired a new stake in Chefs’ Warehouse in the first quarter valued at approximately $229,000. Finally, Verdence Capital Advisors LLC acquired a new stake in Chefs’ Warehouse in the first quarter valued at approximately $232,000. Institutional investors own 91.55% of the company’s stock.

Chefs’ Warehouse Company Profile

The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company's product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.