The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Announces Earnings Results
The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) announced its quarterly earnings results on Wednesday. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02, Briefing.com reports. The firm had revenue of $331.70 million for the quarter, compared to analysts’ expectations of $325.16 million. The Chefs’ Warehouse had a net margin of 0.03% and a return on equity of 4.75%. The Chefs’ Warehouse’s revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 earnings per share. The Chefs’ Warehouse updated its FY17 guidance to $0.38-$0.42 EPS.
The Chefs’ Warehouse (CHEF) traded down 0.68% on Wednesday, hitting $14.50. 216,578 shares of the stock were exchanged. The company has a market cap of $382.09 million, a P/E ratio of 966.67 and a beta of 1.13. The Chefs’ Warehouse has a one year low of $10.71 and a one year high of $17.15. The company’s 50 day moving average price is $13.60 and its 200-day moving average price is $14.53.
A number of research analysts have weighed in on the stock. BMO Capital Markets set a $16.00 price target on shares of The Chefs’ Warehouse and gave the company a “hold” rating in a research report on Thursday, August 3rd. ValuEngine raised shares of The Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub raised shares of The Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Loop Capital assumed coverage on shares of The Chefs’ Warehouse in a research report on Monday, May 15th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Zacks Investment Research raised shares of The Chefs’ Warehouse from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Tuesday, July 11th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $16.50.
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. The Company 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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