Chefs’ Warehouse (NASDAQ:CHEF) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Chefs’ Warehouse (NASDAQ:CHEF) from a buy rating to a hold rating in a research note published on Saturday.

Several other research firms also recently issued reports on CHEF. BTIG Research reiterated a “buy” rating on shares of Chefs’ Warehouse in a report on Friday, May 23rd. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Chefs’ Warehouse in a report on Monday, March 17th. UBS Group boosted their price objective on Chefs’ Warehouse from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Lake Street Capital upped their price target on Chefs’ Warehouse from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, BMO Capital Markets upped their price target on Chefs’ Warehouse from $60.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Chefs’ Warehouse presently has an average rating of “Moderate Buy” and an average target price of $67.40.

Chefs’ Warehouse Stock Performance

Shares of Chefs’ Warehouse stock opened at $63.15 on Friday. Chefs’ Warehouse has a 52 week low of $35.59 and a 52 week high of $66.51. The business’s fifty day simple moving average is $58.09 and its 200-day simple moving average is $54.80. The firm has a market cap of $2.57 billion, a PE ratio of 48.21 and a beta of 1.77. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 1.28.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. Chefs’ Warehouse had a return on equity of 12.90% and a net margin of 1.46%. The business had revenue of $950.75 million for the quarter, compared to analyst estimates of $927.34 million. During the same quarter in the prior year, the company posted $0.15 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts forecast that Chefs’ Warehouse will post 1.73 earnings per share for the current year.

Institutional Investors Weigh In On Chefs’ Warehouse

Several large investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its holdings in Chefs’ Warehouse by 1.7% during the 1st quarter. Rhumbline Advisers now owns 95,003 shares of the company’s stock worth $5,174,000 after purchasing an additional 1,623 shares during the period. Strs Ohio acquired a new position in shares of Chefs’ Warehouse during the 1st quarter worth about $98,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Chefs’ Warehouse by 50.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,382 shares of the company’s stock worth $7,101,000 after acquiring an additional 43,593 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Chefs’ Warehouse during the 1st quarter worth about $696,000. Finally, Select Equity Group L.P. lifted its stake in Chefs’ Warehouse by 524.7% during the first quarter. Select Equity Group L.P. now owns 452,843 shares of the company’s stock worth $24,662,000 after purchasing an additional 380,356 shares during the last quarter. Hedge funds and other 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.