Chefs’ Warehouse (NASDAQ:CHEF) Upgraded at Zacks Research

Zacks Research upgraded shares of Chefs’ Warehouse (NASDAQ:CHEF) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other research firms also recently commented on CHEF. BTIG Research reissued a “buy” rating on shares of Chefs’ Warehouse in a research report on Friday, May 23rd. Benchmark lifted their price objective on Chefs’ Warehouse from $68.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Wall Street Zen lowered Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. UBS Group lifted their price objective on Chefs’ Warehouse from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Finally, Piper Sandler assumed coverage on Chefs’ Warehouse in a research note on Wednesday. They issued a “neutral” rating and a $66.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $69.67.

Chefs’ Warehouse Trading Up 0.4%

Chefs’ Warehouse stock opened at $63.14 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.01 and a quick ratio of 1.17. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 39.46 and a beta of 1.83. Chefs’ Warehouse has a one year low of $37.72 and a one year high of $68.94. The company’s fifty day moving average price is $63.86 and its two-hundred day moving average price is $60.36.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its earnings results on Wednesday, July 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. Chefs’ Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. Chefs’ Warehouse has set its FY 2025 guidance at EPS. On average, analysts forecast that Chefs’ Warehouse will post 1.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Chefs’ Warehouse

In related news, CAO Tim Mccauley sold 17,500 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $65.07, for a total value of $1,138,725.00. Following the completion of the sale, the chief accounting officer owned 52,050 shares in the company, valued at approximately $3,386,893.50. This trade represents a 25.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Chefs’ Warehouse

Hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its stake in shares of Chefs’ Warehouse by 50.6% in the first quarter. CWM LLC now owns 542 shares of the company’s stock valued at $30,000 after buying an additional 182 shares during the period. Center for Financial Planning Inc. bought a new position in Chefs’ Warehouse during the second quarter worth about $35,000. Caitong International Asset Management Co. Ltd bought a new position in Chefs’ Warehouse during the first quarter worth about $37,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Chefs’ Warehouse during the first quarter worth about $46,000. Finally, GAMMA Investing LLC lifted its stake in Chefs’ Warehouse by 27.9% during the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company’s stock worth $84,000 after purchasing an additional 335 shares during the period. Institutional investors own 91.55% of the company’s stock.

About Chefs’ Warehouse

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.