Zacks Investment Research upgraded shares of The Chefs’ Warehouse Inc. (NASDAQ:CHEF) from a sell rating to a buy rating in a research report released on Tuesday. The firm currently has $13.00 target price 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. “
CHEF has been the topic of a number of other research reports. Barclays PLC assumed coverage on The Chefs’ Warehouse in a report on Friday, September 23rd. They set an equal weight rating and a $12.00 price objective on the stock. JPMorgan Chase & Co. reaffirmed a hold rating and issued a $15.00 target price on shares of The Chefs’ Warehouse in a report on Wednesday, August 3rd. Finally, Jefferies Group reaffirmed a buy rating and issued a $14.00 target price (down previously from $15.00) on shares of The Chefs’ Warehouse in a report on Friday, September 30th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $16.00.
Shares of The Chefs’ Warehouse (NASDAQ:CHEF) traded down 1.02% on Tuesday, reaching $11.59. The company had a trading volume of 37,340 shares. The firm has a market capitalization of $304.02 million, a PE ratio of 67.78 and a beta of 1.47. The Chefs’ Warehouse has a 12 month low of $10.31 and a 12 month high of $20.79. The company’s 50-day moving average is $11.48 and its 200 day moving average is $15.21.
The Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.07. The company had revenue of $291.20 million for the quarter, compared to analyst estimates of $297.28 million. The Chefs’ Warehouse had a net margin of 0.39% and a return on equity of 9.53%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. Equities analysts forecast that The Chefs’ Warehouse will post $0.41 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of The Chefs’ Warehouse during the second quarter worth approximately $10,030,000. Jennison Associates LLC purchased a new stake in shares of The Chefs’ Warehouse during the second quarter worth approximately $8,083,000. GMT Capital Corp purchased a new stake in shares of The Chefs’ Warehouse during the second quarter worth approximately $4,846,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of The Chefs’ Warehouse by 4.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,658,252 shares of the company’s stock worth $58,532,000 after buying an additional 165,488 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of The Chefs’ Warehouse by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 690,781 shares of the company’s stock worth $11,052,000 after buying an additional 96,283 shares in the last quarter. Institutional investors own 76.23% of the company’s stock.
About The Chefs’ Warehouse
The Chefs’ Warehouse, Inc is a distributor of specialty food products in the United States and Canada. The Company operates through food product distribution segment, which is concentrated on the East and West Coasts of the United States. It is focused on serving the specific needs of chefs owning and/or operating some of the menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores in the United States and Canada.
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