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

Chefs’ Warehouse (NASDAQ:CHEF) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Wednesday, BidAskClub reports.

Other research analysts have also recently issued research reports about the stock. Piper Jaffray Companies began coverage on shares of Chefs’ Warehouse in a report on Wednesday, December 11th. They issued an “overweight” rating and a $41.00 price objective for the company. ValuEngine upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Thursday, January 16th. Zacks Investment Research upgraded shares of Chefs’ Warehouse from a “sell” rating to a “hold” rating in a report on Tuesday, December 31st. Piper Sandler reiterated a “buy” rating and set a $41.00 price target on shares of Chefs’ Warehouse in a report on Wednesday, January 15th. Finally, CL King assumed coverage on shares of Chefs’ Warehouse in a report on Monday, November 11th. They set a “buy” rating and a $41.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $39.06.

Shares of CHEF traded down $0.25 during trading on Wednesday, reaching $36.62. 16,102 shares of the company traded hands, compared to its average volume of 218,540. Chefs’ Warehouse has a twelve month low of $29.56 and a twelve month high of $42.06. The stock has a market cap of $1.14 billion, a PE ratio of 48.60, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The stock has a 50-day simple moving average of $37.76 and a 200-day simple moving average of $37.17. The company has a quick ratio of 1.47, a current ratio of 2.35 and a debt-to-equity ratio of 0.87.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The business had revenue of $396.90 million during the quarter, compared to analyst estimates of $396.42 million. Chefs’ Warehouse had a net margin of 1.42% and a return on equity of 8.79%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS. On average, equities research analysts predict that Chefs’ Warehouse will post 1 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Conestoga Capital Advisors LLC grew its holdings in Chefs’ Warehouse by 43.9% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,972,675 shares of the company’s stock worth $75,179,000 after acquiring an additional 601,511 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Chefs’ Warehouse during the 4th quarter worth approximately $220,000. Squar Milner Financial Services LLC lifted its position in shares of Chefs’ Warehouse by 255.8% during the 4th quarter. Squar Milner Financial Services LLC now owns 3,170 shares of the company’s stock worth $120,000 after buying an additional 2,279 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in shares of Chefs’ Warehouse by 20.8% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 9,232 shares of the company’s stock worth $372,000 after buying an additional 1,592 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Chefs’ Warehouse during the 3rd quarter worth approximately $434,000. Institutional investors own 85.43% 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.

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Analyst Recommendations for Chefs` Warehouse (NASDAQ:CHEF)

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