Chefs’ Warehouse (CHEF) Upgraded to “Strong-Buy” by BidaskClub

BidaskClub upgraded shares of Chefs’ Warehouse (NASDAQ:CHEF) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

CHEF has been the topic of several other research reports. TheStreet downgraded Chefs’ Warehouse from a b rating to a c rating in a research note on Friday, June 1st. Zacks Investment Research upgraded Chefs’ Warehouse from a hold rating to a buy rating and set a $33.00 price target on the stock in a research note on Friday, August 3rd. BMO Capital Markets set a $34.00 price target on Chefs’ Warehouse and gave the company a buy rating in a research note on Thursday, August 2nd. Barclays reiterated a hold rating and set a $25.00 price target on shares of Chefs’ Warehouse in a research note on Friday, August 3rd. Finally, Loop Capital reiterated a buy rating on shares of Chefs’ Warehouse in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $30.33.

Shares of CHEF stock opened at $34.30 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.62 and a debt-to-equity ratio of 1.22. The firm has a market cap of $1.01 billion, a P/E ratio of 55.33, a price-to-earnings-growth ratio of 1.99 and a beta of 0.85. Chefs’ Warehouse has a 1-year low of $16.15 and a 1-year high of $34.75.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings results on Wednesday, August 1st. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The business had revenue of $370.44 million for the quarter, compared to the consensus estimate of $360.14 million. Chefs’ Warehouse had a return on equity of 7.08% and a net margin of 1.44%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 EPS. equities research analysts forecast that Chefs’ Warehouse will post 0.77 earnings per share for the current fiscal year.

In related news, Director Katherine Oliver acquired 1,088 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was acquired at an average price of $32.10 per share, with a total value of $34,924.80. Following the acquisition, the director now directly owns 14,056 shares in the company, valued at approximately $451,197.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Patricia Lecouras sold 12,000 shares of the business’s stock in a transaction dated Tuesday, July 17th. The shares were sold at an average price of $31.40, for a total value of $376,800.00. Following the completion of the transaction, the insider now directly owns 44,061 shares of the company’s stock, valued at approximately $1,383,515.40. The disclosure for this sale can be found here. Insiders own 20.60% of the company’s stock.

Hedge funds have recently modified their holdings of the company. First Mercantile Trust Co. acquired a new position in shares of Chefs’ Warehouse in the 2nd quarter valued at about $166,000. Royal Bank of Canada lifted its holdings in shares of Chefs’ Warehouse by 37.8% in the 1st quarter. Royal Bank of Canada now owns 6,845 shares of the company’s stock valued at $158,000 after buying an additional 1,879 shares during the period. Barclays PLC lifted its holdings in shares of Chefs’ Warehouse by 127.9% in the 1st quarter. Barclays PLC now owns 7,090 shares of the company’s stock valued at $163,000 after buying an additional 3,979 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Chefs’ Warehouse in the 2nd quarter valued at about $203,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of Chefs’ Warehouse in the 2nd quarter valued at about $205,000. 78.01% of the stock is owned by institutional investors and hedge funds.

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 48,000 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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