StockNews.com Upgrades Chefs’ Warehouse (NASDAQ:CHEF) to Hold

Chefs’ Warehouse (NASDAQ:CHEF) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other brokerages have also issued reports on CHEF. BMO Capital Markets boosted their price target on shares of Chefs’ Warehouse from $35.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 16th. UBS Group boosted their target price on Chefs’ Warehouse from $36.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, Benchmark reaffirmed a “buy” rating and set a $50.00 price target on shares of Chefs’ Warehouse in a research report on Thursday.

Chefs’ Warehouse Trading Up 2.3 %

CHEF stock traded up $0.84 during midday trading on Thursday, reaching $37.78. The company’s stock had a trading volume of 371,895 shares, compared to its average volume of 350,811. The business’s 50-day simple moving average is $35.81 and its 200-day simple moving average is $30.86. The stock has a market cap of $1.50 billion, a PE ratio of 43.43 and a beta of 2.22. Chefs’ Warehouse has a 52 week low of $17.29 and a 52 week high of $39.00. The company has a quick ratio of 1.16, a current ratio of 1.92 and a debt-to-equity ratio of 1.49.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.08. Chefs’ Warehouse had a return on equity of 12.30% and a net margin of 0.98%. The business had revenue of $874.50 million for the quarter, compared to analyst estimates of $833.25 million. During the same period last year, the company earned $0.12 EPS. The firm’s revenue was up 21.5% on a year-over-year basis. As a group, sell-side analysts expect that Chefs’ Warehouse will post 1.32 EPS for the current year.

Institutional Investors Weigh In On Chefs’ Warehouse

A number of hedge funds and other institutional investors have recently made changes to their positions in CHEF. Keybank National Association OH increased its holdings in Chefs’ Warehouse by 4.8% during the 3rd quarter. Keybank National Association OH now owns 10,648 shares of the company’s stock worth $226,000 after purchasing an additional 489 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Chefs’ Warehouse by 0.5% during the third quarter. Rhumbline Advisers now owns 105,292 shares of the company’s stock worth $2,230,000 after buying an additional 564 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Chefs’ Warehouse by 4.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,141 shares of the company’s stock worth $475,000 after buying an additional 671 shares in the last quarter. Victory Capital Management Inc. raised its position in Chefs’ Warehouse by 3.7% in the 4th quarter. Victory Capital Management Inc. now owns 18,836 shares of the company’s stock valued at $554,000 after buying an additional 678 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Chefs’ Warehouse by 19.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,358 shares of the company’s stock valued at $246,000 after acquiring an additional 1,374 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

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.