Chefs’ Warehouse Inc (CHEF) Given Average Recommendation of “Buy” by Brokerages

Chefs’ Warehouse Inc (NASDAQ:CHEF) has been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $37.10.

CHEF has been the subject of several recent research reports. Barclays restated a “hold” rating on shares of Chefs’ Warehouse in a research report on Sunday, May 5th. BMO Capital Markets raised Chefs’ Warehouse from a “market perform” rating to an “outperform” rating and set a $33.31 price objective on the stock in a research note on Wednesday, May 1st. Zacks Investment Research downgraded Chefs’ Warehouse from a “hold” rating to a “sell” rating in a research note on Monday, February 18th. BidaskClub raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Finally, ValuEngine downgraded Chefs’ Warehouse from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 21st.

Shares of CHEF stock traded up $0.82 during trading hours on Friday, reaching $34.66. The company had a trading volume of 134,696 shares, compared to its average volume of 155,606. Chefs’ Warehouse has a one year low of $26.25 and a one year high of $39.26. The firm has a market capitalization of $1.03 billion, a PE ratio of 44.44, a P/E/G ratio of 2.22 and a beta of 0.81. The company has a quick ratio of 1.42, a current ratio of 2.31 and a debt-to-equity ratio of 0.91.

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

In other Chefs’ Warehouse news, Director Joseph M. Cugine purchased 905 shares of the stock in a transaction dated Thursday, May 9th. The shares were acquired at an average price of $33.01 per share, for a total transaction of $29,874.05. Following the completion of the acquisition, the director now owns 21,336 shares of the company’s stock, valued at approximately $704,301.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Alexandros Aldous sold 8,632 shares of Chefs’ Warehouse stock in a transaction on Monday, March 11th. The shares were sold at an average price of $31.05, for a total value of $268,023.60. Following the transaction, the general counsel now owns 48,290 shares in the company, valued at approximately $1,499,404.50. The disclosure for this sale can be found here. Insiders own 15.90% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in Chefs’ Warehouse by 4.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,812 shares of the company’s stock valued at $346,000 after purchasing an additional 460 shares during the last quarter. Victory Capital Management Inc. boosted its position in Chefs’ Warehouse by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 13,509 shares of the company’s stock valued at $432,000 after purchasing an additional 526 shares during the last quarter. Texas Permanent School Fund boosted its position in Chefs’ Warehouse by 3.8% during the first quarter. Texas Permanent School Fund now owns 15,669 shares of the company’s stock valued at $487,000 after purchasing an additional 568 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Chefs’ Warehouse by 57.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,160 shares of the company’s stock valued at $67,000 after purchasing an additional 784 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its position in Chefs’ Warehouse by 11.1% during the fourth quarter. WINTON GROUP Ltd now owns 12,271 shares of the company’s stock valued at $392,000 after purchasing an additional 1,226 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Chefs’ Warehouse Company Profile

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.

Read More: Float

Receive News & Ratings for Chefs' Warehouse Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chefs' Warehouse and related companies with MarketBeat.com's FREE daily email newsletter.