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 note released on Wednesday,Zacks.com reports.

Several other research firms have also weighed in on CHEF. Wall Street Zen lowered shares of Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Benchmark reissued a “buy” rating on shares of Chefs’ Warehouse in a research note on Thursday, October 23rd. Piper Sandler began coverage on shares of Chefs’ Warehouse in a research note on Wednesday, August 27th. They set a “neutral” rating and a $66.00 price objective on the stock. UBS Group lifted their price objective on shares of Chefs’ Warehouse from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, BTIG Research reiterated a “buy” rating and issued a $74.00 price target on shares of Chefs’ Warehouse in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Chefs’ Warehouse presently has an average rating of “Moderate Buy” and a consensus target price of $71.88.

Chefs’ Warehouse Stock Down 1.6%

Chefs’ Warehouse stock opened at $59.00 on Wednesday. The company’s 50 day simple moving average is $60.80 and its 200 day simple moving average is $61.61. Chefs’ Warehouse has a fifty-two week low of $39.33 and a fifty-two week high of $68.94. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 34.71 and a beta of 1.75. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.14 and a quick ratio of 1.17.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.07. Chefs’ Warehouse had a net margin of 1.85% and a return on equity of 14.11%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $986.36 million. During the same quarter last year, the firm earned $0.36 EPS. Chefs’ Warehouse’s quarterly revenue was up 9.6% compared to the same quarter last year. Chefs’ Warehouse has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Chefs’ Warehouse will post 1.73 EPS for the current year.

Institutional Trading of Chefs’ Warehouse

A number of institutional investors have recently modified their holdings of CHEF. GAMMA Investing LLC lifted its holdings in shares of Chefs’ Warehouse by 27.9% in the first 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. New York State Teachers Retirement System lifted its position in shares of Chefs’ Warehouse by 5.4% in the first quarter. New York State Teachers Retirement System now owns 44,013 shares of the company’s stock worth $2,397,000 after purchasing an additional 2,271 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Chefs’ Warehouse in the first quarter worth $289,000. Principal Financial Group Inc. lifted its position in shares of Chefs’ Warehouse by 5.0% in the first quarter. Principal Financial Group Inc. now owns 192,764 shares of the company’s stock worth $10,498,000 after purchasing an additional 9,142 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Chefs’ Warehouse by 50.6% in the first quarter. CWM LLC now owns 542 shares of the company’s stock worth $30,000 after purchasing an additional 182 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors.

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.