Chefs’ Warehouse (NASDAQ:CHEF) Rating Increased to Buy at Zacks Investment Research

Chefs’ Warehouse (NASDAQ:CHEF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $12.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential downside of 6.61% from the company’s previous close.

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. “

CHEF has been the topic of several other reports. National Securities initiated coverage on Chefs’ Warehouse in a research report on Thursday, February 27th. They set a “buy” rating and a $42.00 price target on the stock. Piper Sandler restated a “buy” rating and issued a $41.00 target price on shares of Chefs’ Warehouse in a research note on Wednesday, January 15th. TheStreet downgraded Chefs’ Warehouse from a “b-” rating to a “c” rating in a research note on Wednesday, March 18th. Piper Jaffray Companies started coverage on Chefs’ Warehouse in a research note on Wednesday, December 11th. They issued an “overweight” rating and a $41.00 target price on the stock. Finally, BidaskClub downgraded Chefs’ Warehouse from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Chefs’ Warehouse has an average rating of “Hold” and an average target price of $35.05.

CHEF stock traded up $0.86 during trading on Tuesday, reaching $12.85. 2,128,888 shares of the company’s stock were exchanged, compared to its average volume of 2,139,633. The company has a quick ratio of 2.19, a current ratio of 3.02 and a debt-to-equity ratio of 1.15. Chefs’ Warehouse has a 1-year low of $3.55 and a 1-year high of $42.06. The company’s fifty day moving average price is $19.51 and its 200-day moving average price is $32.77. The firm has a market cap of $333.59 million, a PE ratio of 15.86 and a beta of 1.78.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.39 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.39. The company had revenue of $426.51 million for the quarter, compared to the consensus estimate of $428.88 million. Chefs’ Warehouse had a return on equity of 9.38% and a net margin of 1.52%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 EPS. As a group, sell-side analysts expect that Chefs’ Warehouse will post 0.38 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHEF. Advisors Asset Management Inc. boosted its stake in shares of Chefs’ Warehouse by 188.5% during the 4th quarter. Advisors Asset Management Inc. now owns 880 shares of the company’s stock worth $34,000 after acquiring an additional 575 shares in the last quarter. Squar Milner Financial Services LLC raised its position in shares of Chefs’ Warehouse by 255.8% in the fourth quarter. Squar Milner Financial Services LLC now owns 3,170 shares of the company’s stock valued at $120,000 after buying an additional 2,279 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Chefs’ Warehouse in the fourth quarter valued at approximately $166,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Chefs’ Warehouse in the fourth quarter valued at approximately $201,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Chefs’ Warehouse in the fourth quarter valued at approximately $220,000. Institutional investors own 87.24% of the company’s stock.

About Chefs’ Warehouse

The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food products in the United States and Canada. Its product portfolio includes approximately 55,000 stock-keeping units comprising specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.

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Analyst Recommendations for Chefs` Warehouse (NASDAQ:CHEF)

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