Chefs' Warehouse (CHEF) Rating Lowered to Hold at Zacks Investment Research

Chefs' Warehouse (NASDAQ:CHEF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

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. “

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CHEF has been the topic of several other research reports. Canaccord Genuity reaffirmed a “buy” rating and set a $24.00 price target on shares of Chefs' Warehouse in a research note on Wednesday, February 21st. BidaskClub downgraded shares of Chefs' Warehouse from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $22.60.

Chefs' Warehouse stock traded up $0.65 during trading hours on Monday, hitting $23.90. 125,056 shares of the company traded hands, compared to its average volume of 169,761. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.74 and a quick ratio of 1.80. The firm has a market cap of $661.26, a price-to-earnings ratio of 44.26, a price-to-earnings-growth ratio of 1.46 and a beta of 0.87. Chefs' Warehouse has a 1-year low of $11.85 and a 1-year high of $25.93.

Chefs' Warehouse (NASDAQ:CHEF) last posted its earnings results on Tuesday, February 20th. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $357.00 million for the quarter, compared to analyst estimates of $352.95 million. Chefs' Warehouse had a net margin of 1.10% and a return on equity of 5.48%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. equities research analysts forecast that Chefs' Warehouse will post 0.73 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in CHEF. Voya Investment Management LLC purchased a new stake in Chefs' Warehouse during the 2nd quarter worth $132,000. MetLife Investment Advisors LLC purchased a new stake in Chefs' Warehouse during the 4th quarter worth $176,000. Atria Investments LLC purchased a new stake in Chefs' Warehouse during the 4th quarter worth $205,000. The Manufacturers Life Insurance Company increased its position in shares of Chefs' 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 purchasing an additional 555 shares during the last quarter. Finally, Comerica Bank bought a new stake in shares of Chefs' Warehouse in the 4th quarter worth about $240,000. 90.73% of the stock is currently owned by hedge funds and other institutional investors.

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About 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. The Company 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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