BidaskClub Lowers Chefs’ Warehouse (NASDAQ:CHEF) to Buy

BidaskClub downgraded shares of Chefs’ Warehouse (NASDAQ:CHEF) from a strong-buy rating to a buy rating in a research note published on Saturday, BidAskClub reports.

A number of other research analysts also recently weighed in on CHEF. TheStreet raised Chefs’ Warehouse from a c+ rating to a b- rating in a report on Friday, July 5th. Zacks Investment Research cut Chefs’ Warehouse from a hold rating to a sell rating in a report on Monday, September 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Chefs’ Warehouse presently has an average rating of Hold and a consensus target price of $37.10.

Shares of NASDAQ CHEF opened at $38.85 on Friday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 49.81, a PEG ratio of 2.50 and a beta of 0.78. The company has a current ratio of 2.28, a quick ratio of 1.40 and a debt-to-equity ratio of 0.89. Chefs’ Warehouse has a 12 month low of $29.56 and a 12 month high of $39.60. The business has a 50-day moving average of $37.59 and a 200-day moving average of $33.96.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $411.40 million during the quarter, compared to analyst estimates of $410.13 million. Chefs’ Warehouse had a return on equity of 8.55% and a net margin of 1.44%. Chefs’ Warehouse’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 EPS. On average, analysts predict that Chefs’ Warehouse will post 1.01 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. acquired a new stake in Chefs’ Warehouse in the second quarter valued at approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Chefs’ Warehouse by 57.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,160 shares of the company’s stock valued at $67,000 after acquiring an additional 784 shares in the last quarter. Aperio Group LLC acquired a new position in Chefs’ Warehouse during the second quarter worth about $74,000. Avestar Capital LLC acquired a new position in Chefs’ Warehouse during the first quarter worth $77,000. Finally, BNP Paribas Arbitrage SA increased its position in Chefs’ Warehouse by 1,074.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,520 shares of the company’s stock worth $140,000 after purchasing an additional 4,135 shares during the last quarter. 83.76% of the stock is owned by hedge funds and other institutional investors.

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.

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