Chefs’ Warehouse (NASDAQ:CHEF) Raised to “Strong-Buy” at Zacks Research

Chefs’ Warehouse (NASDAQ:CHEF) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other analysts also recently commented on the stock. TD Cowen upped their price target on shares of Chefs’ Warehouse from $110.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Chefs’ Warehouse in a research note on Wednesday, July 29th. Benchmark upped their target price on shares of Chefs’ Warehouse from $106.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 30th. BTIG Research increased their target price on shares of Chefs’ Warehouse from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen raised Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Chefs’ Warehouse currently has an average rating of “Moderate Buy” and an average target price of $107.43.

Chefs’ Warehouse Trading Up 1.6%

CHEF opened at $111.07 on Tuesday. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 52.89 and a beta of 1.39. Chefs’ Warehouse has a 52 week low of $53.20 and a 52 week high of $117.33. The business’s 50 day moving average is $97.34 and its two-hundred day moving average is $78.29. The company has a quick ratio of 1.31, a current ratio of 2.15 and a debt-to-equity ratio of 1.07.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Chefs’ Warehouse had a return on equity of 16.95% and a net margin of 2.09%.The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, research analysts predict that Chefs’ Warehouse will post 2.37 EPS for the current year.

Insider Transactions at Chefs’ Warehouse

In other Chefs’ Warehouse news, insider Christina Polychroni sold 4,500 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $79.21, for a total value of $356,445.00. Following the transaction, the insider directly owned 24,642 shares of the company’s stock, valued at approximately $1,951,892.82. The trade was a 15.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Polymer Capital Management HK LTD purchased a new stake in Chefs’ Warehouse in the 2nd quarter valued at approximately $1,288,000. Globeflex Capital L P acquired a new stake in shares of Chefs’ Warehouse in the 2nd quarter valued at approximately $375,000. Quantbot Technologies LP purchased a new stake in shares of Chefs’ Warehouse in the second quarter valued at approximately $3,719,000. William Blair Investment Management LLC acquired a new position in Chefs’ Warehouse during the second quarter worth $18,705,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in Chefs’ Warehouse in the second quarter worth $4,286,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Chefs’ Warehouse Company Profile

Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high‐end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value‐added preparations, pantry staples and premium desserts and beverages.

The company operates a network of distribution centers strategically located in major metropolitan markets across North America.