The Chefs Warehouse, Inc (NASDAQ:CHEF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to 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 also recently commented on the company. Barclays PLC restated an “equal weight” rating and issued a $14.00 target price (up from $12.00) on shares of The Chefs Warehouse in a research note on Wednesday, February 22nd. BMO Capital Markets restated a “hold” rating and issued a $16.00 target price (up from $12.00) on shares of The Chefs Warehouse in a research note on Friday, February 24th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently 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 trading on Monday, reaching $14.00. The company’s stock had a trading volume of 115,742 shares. The firm has a market cap of $367.88 million, a PE ratio of 119.66 and a beta of 1.31. The Chefs Warehouse has a 12 month low of $10.31 and a 12 month high of $20.79. The stock’s 50 day moving average price is $15.46 and its 200-day moving average price is $13.78.
The Chefs Warehouse (NASDAQ:CHEF) last issued its earnings results on Tuesday, February 21st. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.02. The company earned $342.90 million during the quarter, compared to the consensus estimate of $336.71 million. The Chefs Warehouse had a return on equity of 7.47% and a net margin of 0.05%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the business posted $0.26 EPS. Equities analysts predict that The Chefs Warehouse will post $0.37 EPS for the current year.
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Institutional investors have recently made changes to their positions in the stock. Legion Partners Asset Management LLC acquired a new position in shares of The Chefs Warehouse during the fourth quarter valued at $15,888,000. Rutabaga Capital Management LLC MA acquired a new position in shares of The Chefs Warehouse during the third quarter valued at $8,005,000. Kayne Anderson Rudnick Investment Management LLC boosted 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 valued at $44,558,000 after buying an additional 341,587 shares during the last quarter. Formula Growth Ltd. acquired a new position in shares of The Chefs Warehouse during the third quarter valued at $2,945,000. Finally, Advisors Capital Management LLC boosted 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 valued at $2,012,000 after buying an additional 104,538 shares during the last quarter. 74.33% of the stock is currently owned by institutional investors and hedge funds.
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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