Chefs’ Warehouse (NASDAQ:CHEF) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Chefs’ Warehouse (NASDAQ:CHEF) from a hold rating to a buy rating in a report released on Saturday morning.

Other analysts also recently issued research reports about the stock. UBS Group upped their price target on shares of Chefs’ Warehouse from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Chefs’ Warehouse in a research report on Monday, March 17th. Finally, BTIG Research reiterated a “buy” rating on shares of Chefs’ Warehouse in a research report on Friday, May 23rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $67.40.

Chefs’ Warehouse Stock Up 2.2%

CHEF stock opened at $62.88 on Friday. The company has a fifty day moving average price of $60.36 and a 200 day moving average price of $56.16. Chefs’ Warehouse has a 12 month low of $35.59 and a 12 month high of $66.51. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 41.64 and a beta of 1.77. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.05 and a quick ratio of 1.27.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. Chefs’ Warehouse had a net margin of 1.65% and a return on equity of 13.15%. The firm had revenue of $950.75 million during the quarter, compared to the consensus estimate of $927.34 million. During the same quarter in the prior year, the firm earned $0.15 EPS. Chefs’ Warehouse’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts expect that Chefs’ Warehouse will post 1.73 earnings per share for the current year.

Institutional Trading of Chefs’ Warehouse

Several hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. grew its stake in shares of Chefs’ Warehouse by 389.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,073,339 shares of the company’s stock worth $112,914,000 after purchasing an additional 1,649,811 shares during the period. Wellington Management Group LLP grew its stake in shares of Chefs’ Warehouse by 193.1% during the 4th quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company’s stock worth $120,618,000 after purchasing an additional 1,611,240 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Chefs’ Warehouse during the 1st quarter worth $42,866,000. Nuveen LLC acquired a new position in shares of Chefs’ Warehouse during the 1st quarter worth $26,263,000. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Chefs’ Warehouse during the 4th quarter worth $20,374,000. 91.55% of the stock is owned by institutional investors and hedge funds.

Chefs’ Warehouse Company Profile

The Chefs’ Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company’s product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.