Chefs’ Warehouse (CHEF) Upgraded by Zacks Investment Research to “Strong-Buy”

Zacks Investment Research upgraded shares of Chefs’ Warehouse (NASDAQ:CHEF) from a hold rating to a strong-buy rating in a research report released on Monday, Zacks.com reports. Zacks Investment Research currently has $39.00 price objective on the stock.

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 subject of several other research reports. BidaskClub lowered shares of Chefs’ Warehouse from a buy rating to a hold rating in a research report on Saturday, February 2nd. ValuEngine lowered shares of Chefs’ Warehouse from a strong-buy rating to a buy rating in a research report on Thursday, March 21st. BMO Capital Markets upgraded shares of Chefs’ Warehouse from a market perform rating to an outperform rating and set a $33.31 price objective for the company in a research report on Wednesday, May 1st. Finally, Barclays reiterated a hold rating on shares of Chefs’ Warehouse in a research report on Sunday, May 5th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $32.89.

CHEF stock opened at $33.15 on Monday. Chefs’ Warehouse has a 52 week low of $26.25 and a 52 week high of $39.26. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.31 and a quick ratio of 1.42. The firm has a market cap of $985.56 million, a price-to-earnings ratio of 42.50, a price-to-earnings-growth ratio of 2.20 and a beta of 0.81.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Chefs’ Warehouse had a net margin of 1.42% and a return on equity of 8.02%. The business had revenue of $357.03 million for the quarter, compared to the consensus estimate of $348.33 million. During the same quarter last year, the business earned $0.03 EPS. Chefs’ Warehouse’s revenue for the quarter was up 12.1% compared to the same quarter last year. Research analysts anticipate that Chefs’ Warehouse will post 1.03 EPS for the current fiscal year.

In other news, insider Patricia Lecouras sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $36.07, for a total value of $90,175.00. Following the completion of the sale, the insider now owns 41,561 shares in the company, valued at approximately $1,499,105.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Alexandros Aldous sold 8,632 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $31.05, for a total transaction of $268,023.60. Following the completion of the sale, the general counsel now owns 48,290 shares of the company’s stock, valued at approximately $1,499,404.50. The disclosure for this sale can be found here. 15.90% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of CHEF. Bank of New York Mellon Corp increased its stake in Chefs’ Warehouse by 23.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 170,791 shares of the company’s stock worth $6,208,000 after buying an additional 32,872 shares during the period. BlackRock Inc. increased its stake in Chefs’ Warehouse by 47.2% in the 3rd quarter. BlackRock Inc. now owns 2,174,707 shares of the company’s stock worth $79,050,000 after buying an additional 697,526 shares during the period. MetLife Investment Advisors LLC increased its stake in Chefs’ Warehouse by 66.8% in the 3rd quarter. MetLife Investment Advisors LLC now owns 14,309 shares of the company’s stock worth $520,000 after buying an additional 5,732 shares during the period. AQR Capital Management LLC increased its stake in Chefs’ Warehouse by 71.4% in the 3rd quarter. AQR Capital Management LLC now owns 13,150 shares of the company’s stock worth $478,000 after buying an additional 5,479 shares during the period. Finally, Teachers Advisors LLC increased its stake in Chefs’ Warehouse by 4.4% in the 3rd quarter. Teachers Advisors LLC now owns 64,791 shares of the company’s stock worth $2,355,000 after buying an additional 2,705 shares during the period. 83.67% of the stock is currently owned by institutional investors.

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.

See Also: Initial Public Offering (IPO)

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Analyst Recommendations for Chefs` Warehouse (NASDAQ:CHEF)

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