The Chefs Warehouse, Inc (NASDAQ:CHEF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
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. “
Several other analysts have also issued reports on CHEF. BMO Capital Markets reiterated a “hold” rating and set a $16.00 target price (up previously from $12.00) on shares of The Chefs Warehouse in a report on Friday, February 24th. Barclays PLC reiterated an “equal weight” rating and set a $14.00 target price (up previously from $12.00) on shares of The Chefs Warehouse in a report on Wednesday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $14.40.
Shares of The Chefs Warehouse (NASDAQ:CHEF) traded down 1.41% during mid-day trading on Monday, hitting $14.00. The company’s stock had a trading volume of 115,742 shares. The company has a 50-day moving average of $15.46 and a 200 day moving average of $13.78. The company has a market cap of $367.88 million, a price-to-earnings ratio of 119.66 and a beta of 1.31. The Chefs Warehouse has a 1-year low of $10.31 and a 1-year high of $20.79.
The Chefs Warehouse (NASDAQ:CHEF) last released its earnings results on Tuesday, February 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The Chefs Warehouse had a return on equity of 7.47% and a net margin of 0.05%. The business had revenue of $342.90 million for the quarter, compared to analyst estimates of $336.71 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The Chefs Warehouse’s revenue was up 17.0% on a year-over-year basis. On average, analysts expect that The Chefs Warehouse will post $0.37 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in the company. Legion Partners Asset Management LLC acquired a new position in shares of The Chefs Warehouse during the fourth quarter worth $15,888,000. Rutabaga Capital Management LLC MA acquired a new position in shares of The Chefs Warehouse during the third quarter worth $8,005,000. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of The Chefs Warehouse by 9.3% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,999,839 shares of the company’s stock worth $44,558,000 after buying an additional 341,587 shares during the period. Formula Growth Ltd. acquired a new position in shares of The Chefs Warehouse during the third quarter worth $2,945,000. Finally, Advisors Capital Management LLC increased its position in shares of The Chefs Warehouse by 137.6% in the third quarter. Advisors Capital Management LLC now owns 180,535 shares of the company’s stock worth $2,012,000 after buying an additional 104,538 shares during the period. 74.33% of the stock is currently owned by hedge funds and other institutional investors.
About The Chefs Warehouse
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. It 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.
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