BTIG Research Reiterates Buy Rating for Chefs’ Warehouse (NASDAQ:CHEF)

Chefs’ Warehouse (NASDAQ:CHEF)‘s stock had its “buy” rating reissued by research analysts at BTIG Research in a research note issued on Tuesday,Benzinga reports. They presently have a $74.00 price target on the stock. BTIG Research’s price target points to a potential upside of 23.73% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Zacks Research cut shares of Chefs’ Warehouse from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Piper Sandler initiated coverage on shares of Chefs’ Warehouse in a report on Wednesday, August 27th. They set a “neutral” rating and a $66.00 target price on the stock. Benchmark increased their target price on shares of Chefs’ Warehouse from $68.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Wall Street Zen cut shares of Chefs’ Warehouse from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, UBS Group increased their target price on shares of Chefs’ Warehouse from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Chefs’ Warehouse presently has an average rating of “Moderate Buy” and an average price target of $70.29.

Chefs’ Warehouse Trading Up 0.3%

NASDAQ CHEF opened at $59.81 on Tuesday. Chefs’ Warehouse has a 12 month low of $38.65 and a 12 month high of $68.94. 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 $2.44 billion, a price-to-earnings ratio of 37.38 and a beta of 1.75. The company’s fifty day moving average price is $61.17 and its two-hundred day moving average price is $61.16.

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

Institutional Trading of Chefs’ Warehouse

A number of large investors have recently modified their holdings of CHEF. Ameriprise Financial Inc. increased its holdings in shares of Chefs’ Warehouse by 389.5% in the 1st quarter. Ameriprise Financial Inc. now owns 2,073,339 shares of the company’s stock worth $112,914,000 after acquiring an additional 1,649,811 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Chefs’ Warehouse during the 1st quarter valued at about $42,866,000. Nuveen LLC acquired a new position in Chefs’ Warehouse during the 1st quarter valued at about $26,263,000. Select Equity Group L.P. increased its stake in Chefs’ Warehouse by 524.7% during the 1st quarter. Select Equity Group L.P. now owns 452,843 shares of the company’s stock valued at $24,662,000 after buying an additional 380,356 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Chefs’ Warehouse by 362.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 429,124 shares of the company’s stock valued at $27,382,000 after buying an additional 336,357 shares during the period. Institutional investors and hedge funds 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.