The Chefs’ Warehouse Inc. (CHEF) Sees Unusually-High Trading Volume
The Chefs’ Warehouse Inc. (NASDAQ:CHEF) shares saw an uptick in trading volume on Monday . 296,877 shares changed hands during mid-day trading, an increase of 37% from the previous session’s volume of 216,746 shares.The stock last traded at $11.64 and had previously closed at $10.90.
A number of brokerages recently issued reports on CHEF. Zacks Investment Research lowered The Chefs’ Warehouse from a “buy” rating to a “sell” rating in a research report on Friday. JPMorgan Chase & Co. reissued a “hold” rating and issued a $15.00 target price on shares of The Chefs’ Warehouse in a research report on Wednesday, August 3rd. TheStreet lowered The Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Jefferies Group reissued a “buy” rating and issued a $20.00 target price on shares of The Chefs’ Warehouse in a research report on Wednesday, May 4th. Finally, Canaccord Genuity reissued a “hold” rating on shares of The Chefs’ Warehouse in a research report on Sunday, April 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $18.80.
The company has a market cap of $304.80 million and a PE ratio of 67.95. The firm has a 50-day moving average of $15.40 and a 200-day moving average of $16.70.
The Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.22 by $0.07. The firm earned $291.20 million during the quarter, compared to the consensus estimate of $297.28 million. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.21 earnings per share. On average, equities research analysts forecast that The Chefs’ Warehouse Inc. will post $0.42 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in The Chefs’ Warehouse stock. Dimensional Fund Advisors LP raised its stake in The Chefs’ Warehouse Inc. (NASDAQ:CHEF) by 17.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 455,680 shares of the company’s stock after buying an additional 66,787 shares during the period. Dimensional Fund Advisors LP owned 1.73% of The Chefs’ Warehouse worth $7,601,000 as of its most recent SEC filing.
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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