Chefs’ Warehouse (NASDAQ:CHEF) Given New $48.00 Price Target at Lake Street Capital

Chefs’ Warehouse (NASDAQ:CHEF – Get Rating) had its price objective raised by Lake Street Capital from $45.00 to $48.00 in a research report report published on Thursday, The Fly reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. CL King upped their price target on shares of Chefs’ Warehouse from $34.00 to $38.00 in a research report on Thursday, April 14th. StockNews.com initiated coverage on shares of Chefs’ Warehouse in a research report on Thursday, March 31st. They issued a hold rating for the company. Finally, BMO Capital Markets upped their price target on shares of Chefs’ Warehouse from $40.00 to $44.00 in a research report on Thursday, April 28th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $41.80.

Shares of CHEF stock opened at $35.24 on Thursday. Chefs’ Warehouse has a 12 month low of $25.60 and a 12 month high of $39.03. The stock has a market cap of $1.35 billion, a P/E ratio of 92.74 and a beta of 2.01. The company has a current ratio of 2.26, a quick ratio of 1.47 and a debt-to-equity ratio of 1.11. The company has a 50 day simple moving average of $35.13 and a two-hundred day simple moving average of $32.88.

Chefs’ Warehouse (NASDAQ:CHEF – Get Rating) last announced its earnings results on Wednesday, April 27th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. Chefs’ Warehouse had a net margin of 0.73% and a return on equity of 5.75%. The business had revenue of $512.10 million during the quarter, compared to analysts’ expectations of $480.92 million. During the same period in the prior year, the company earned ($0.50) earnings per share. The firm’s revenue was up 82.8% on a year-over-year basis. As a group, equities analysts forecast that Chefs’ Warehouse will post 0.78 earnings per share for the current year.

In related news, CFO James Leddy sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $39.00, for a total transaction of $39,000.00. Following the completion of the transaction, the chief financial officer now owns 126,965 shares in the company, valued at $4,951,635. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in CHEF. Allspring Global Investments Holdings LLC purchased a new stake in Chefs’ Warehouse during the fourth quarter valued at $22,301,000. Alliancebernstein L.P. raised its stake in Chefs’ Warehouse by 15.3% during the fourth quarter. Alliancebernstein L.P. now owns 2,823,187 shares of the company’s stock valued at $94,012,000 after purchasing an additional 375,397 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in Chefs’ Warehouse by 45.8% during the fourth quarter. Stephens Investment Management Group LLC now owns 854,977 shares of the company’s stock valued at $28,471,000 after purchasing an additional 268,707 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Chefs’ Warehouse during the first quarter valued at $8,440,000. Finally, Lisanti Capital Growth LLC purchased a new stake in Chefs’ Warehouse during the first quarter valued at $5,607,000. 84.43% of the stock is currently owned by institutional investors.

Chefs’ Warehouse Company Profile (Get Rating)

The Chefs' Warehouse, Inc, together with its subsidiaries, engages in distribution of specialty food products in the United States and Canada. The company's product portfolio includes approximately 50,000 stock-keeping units, such as specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.

Read More