Chefs’ Warehouse (NASDAQ:CHEF) Stock Price Down 8%

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Shares of Chefs’ Warehouse Inc (NASDAQ:CHEF) dropped 8% during mid-day trading on Friday . The company traded as low as $11.20 and last traded at $11.53, approximately 2,323,454 shares changed hands during trading. An increase of 108% from the average daily volume of 1,115,129 shares. The stock had previously closed at $12.53.

CHEF has been the subject of a number of analyst reports. National Securities reiterated a “buy” rating and set a $30.00 price target on shares of Chefs’ Warehouse in a research note on Wednesday. BTIG Research assumed coverage on shares of Chefs’ Warehouse in a research report on Thursday, July 16th. They set a “neutral” rating on the stock. TheStreet cut shares of Chefs’ Warehouse from a “c-” rating to a “d” rating in a research report on Thursday. ValuEngine raised shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research report on Friday, May 8th. Finally, Zacks Investment Research cut shares of Chefs’ Warehouse from a “hold” rating to a “sell” rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $25.33.

The company has a quick ratio of 2.38, a current ratio of 3.54 and a debt-to-equity ratio of 1.03. The business’s fifty day moving average is $13.63 and its 200 day moving average is $19.79.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The company had revenue of $200.50 million during the quarter, compared to the consensus estimate of $213.72 million. Chefs’ Warehouse had a negative return on equity of 5.13% and a negative net margin of 1.37%. The company’s revenue for the quarter was down 51.3% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS. On average, analysts expect that Chefs’ Warehouse Inc will post -1.23 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Chefs’ Warehouse by 2,100.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,169 shares of the company’s stock worth $32,000 after purchasing an additional 3,025 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Chefs’ Warehouse by 188.5% in the 4th quarter. Advisors Asset Management Inc. now owns 880 shares of the company’s stock worth $34,000 after purchasing an additional 575 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Chefs’ Warehouse by 46.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,826 shares of the company’s stock worth $99,000 after purchasing an additional 3,104 shares during the period. Jane Street Group LLC purchased a new position in Chefs’ Warehouse in the 1st quarter valued at approximately $125,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Chefs’ Warehouse by 48.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,820 shares of the company’s stock valued at $129,000 after buying an additional 4,182 shares in the last quarter. 62.88% of the stock is currently owned by institutional investors.

Chefs’ Warehouse Company Profile (NASDAQ:CHEF)

The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food products in the United States and Canada. Its product portfolio includes approximately 55,000 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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