Chefs’ Warehouse (NASDAQ:CHEF) Raised to Buy at Wall Street Zen

Chefs’ Warehouse (NASDAQ:CHEF) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other analysts have also recently commented on the stock. BTIG Research restated a “buy” rating on shares of Chefs’ Warehouse in a research note on Friday, May 23rd. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Chefs’ Warehouse in a research note on Monday, March 17th. Finally, UBS Group lifted their price objective on shares of Chefs’ Warehouse from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $67.40.

Chefs’ Warehouse Stock Up 1.0%

CHEF stock opened at $61.50 on Friday. The firm has a 50 day moving average of $60.19 and a 200 day moving average of $55.93. The stock has a market capitalization of $2.50 billion, a PE ratio of 40.73 and a beta of 1.77. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 1.26. Chefs’ Warehouse has a 52 week low of $35.59 and a 52 week high of $66.51.

Chefs’ Warehouse (NASDAQ:CHEF) last released its earnings results on Wednesday, April 30th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The company had revenue of $950.75 million during the quarter, compared to analysts’ expectations of $927.34 million. Chefs’ Warehouse had a net margin of 1.65% and a return on equity of 13.15%. Chefs’ Warehouse’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS. Sell-side analysts forecast that Chefs’ Warehouse will post 1.73 earnings per share for the current year.

Institutional Investors Weigh In On Chefs’ Warehouse

Several hedge funds have recently modified their holdings of CHEF. CWM LLC increased its stake in shares of Chefs’ Warehouse by 50.6% in the 1st quarter. CWM LLC now owns 542 shares of the company’s stock valued at $30,000 after purchasing an additional 182 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Chefs’ Warehouse by 303.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the company’s stock valued at $29,000 after purchasing an additional 446 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Chefs’ Warehouse in the 1st quarter valued at about $37,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Chefs’ Warehouse in the 1st quarter valued at about $46,000. Finally, GAMMA Investing LLC increased its stake in shares of Chefs’ Warehouse by 27.9% in the 1st quarter. GAMMA Investing LLC now owns 1,537 shares of the company’s stock valued at $84,000 after purchasing an additional 335 shares in the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

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.