The Chefs’ Warehouse, Inc. (CHEF) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) from a hold rating to a buy rating in a report released on Friday. They currently have $19.00 price target on the stock.

According to Zacks, “Chefs’ Warehouse Holdings, LLC is a distributor of specialty food products in the United States. The Company is focused on serving the specific needs of chefs who own and/or operate restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools and specialty food stores. Its product portfolio includes artisan charcuterie, specialty cheeses, unique oils and vinegars, hormone-free protein, truffles, caviar, and chocolate. It also offers cooking oils, butter, eggs, milk, and flour. Chefs’ Warehouse Holdings, LLC is based in Ridgefield, Connecticut. “

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets reaffirmed a market perform rating and issued a $18.00 price target (up from $16.00) on shares of The Chefs’ Warehouse in a research note on Thursday. BidaskClub raised shares of The Chefs’ Warehouse from a hold rating to a buy rating in a research note on Thursday. ValuEngine raised shares of The Chefs’ Warehouse from a sell rating to a hold rating in a research note on Thursday, August 3rd. Canaccord Genuity assumed coverage on shares of The Chefs’ Warehouse in a research note on Tuesday, July 4th. They issued a buy rating and a $18.00 price target on the stock. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $19.00 price target on shares of The Chefs’ Warehouse in a research note on Thursday, June 1st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The Chefs’ Warehouse has a consensus rating of Buy and a consensus price target of $17.83.

Shares of The Chefs’ Warehouse (NASDAQ:CHEF) traded up 2.03% on Friday, hitting $17.60. The company’s stock had a trading volume of 503,453 shares. The Chefs’ Warehouse has a 52 week low of $10.71 and a 52 week high of $18.13. The stock has a market capitalization of $463.94 million, a P/E ratio of 36.51 and a beta of 1.13. The stock’s 50 day moving average price is $13.82 and its 200 day moving average price is $14.55.

The Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. The Chefs’ Warehouse had a net margin of 0.99% and a return on equity of 4.60%. The business had revenue of $331.70 million for the quarter, compared to the consensus estimate of $325.16 million. During the same period in the prior year, the business posted $0.15 earnings per share. The Chefs’ Warehouse’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, analysts forecast that The Chefs’ Warehouse will post $0.40 earnings per share for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of CHEF. Dimensional Fund Advisors LP increased its position in The Chefs’ Warehouse by 18.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,008,855 shares of the company’s stock valued at $13,115,000 after buying an additional 158,345 shares during the last quarter. Citadel Advisors LLC increased its position in The Chefs’ Warehouse by 139.6% in the second quarter. Citadel Advisors LLC now owns 29,149 shares of the company’s stock valued at $379,000 after buying an additional 16,981 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in The Chefs’ Warehouse by 193.0% in the second quarter. Parametric Portfolio Associates LLC now owns 82,858 shares of the company’s stock valued at $1,077,000 after buying an additional 54,579 shares during the last quarter. Vanguard Group Inc. increased its position in The Chefs’ Warehouse by 5.3% in the second quarter. Vanguard Group Inc. now owns 1,021,737 shares of the company’s stock valued at $13,282,000 after buying an additional 51,879 shares during the last quarter. Finally, Northern Trust Corp increased its position in The Chefs’ Warehouse by 0.6% in the second quarter. Northern Trust Corp now owns 229,696 shares of the company’s stock valued at $2,986,000 after buying an additional 1,394 shares during the last quarter. 76.24% of the stock is currently owned by hedge funds and other institutional investors.

The Chefs’ Warehouse Company Profile

The Chefs’ Warehouse, Inc is a distributor of specialty food products in the United States and Canada. The Company operates through food product distribution segment, which is concentrated on the East and West Coasts of the United States. The Company is focused on serving the specific needs of chefs owning and/or operating some of the menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores in the United States and Canada.

Analyst Recommendations for The Chefs` Warehouse (NASDAQ:CHEF)

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