Chefs' Warehouse’s (CHEF) Buy Rating Reiterated at Canaccord Genuity

Chefs' Warehouse (NASDAQ:CHEF)‘s stock had its “buy” rating reiterated by equities researchers at Canaccord Genuity in a note issued to investors on Monday, January 8th. They currently have a $24.00 price target on the stock. Canaccord Genuity’s price objective suggests a potential upside of 16.22% from the company’s previous close.

Several other analysts have also recently commented on CHEF. TheStreet upgraded Chefs' Warehouse from a “c+” rating to a “b-” rating in a report on Monday, October 2nd. BMO Capital Markets raised Chefs' Warehouse from a “market perform” rating to an “outperform” rating in a research note on Monday, November 13th. Zacks Investment Research downgraded Chefs' Warehouse from a “hold” rating to a “sell” rating in a report on Monday, November 13th. Jefferies Group reiterated a “buy” rating and set a $23.00 price objective on shares of Chefs' Warehouse in a report on Friday, November 10th. Finally, Loop Capital increased their price objective on Chefs' Warehouse from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Chefs' Warehouse has a consensus rating of “Buy” and an average target price of $20.00.

Shares of Chefs' Warehouse (CHEF) traded up $0.30 during trading on Monday, hitting $20.65. The stock had a trading volume of 96,200 shares, compared to its average volume of 126,800. The firm has a market cap of $587.74, a price-to-earnings ratio of 38.96, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The company has a current ratio of 2.26, a quick ratio of 1.31 and a debt-to-equity ratio of 1.54. Chefs' Warehouse has a fifty-two week low of $11.85 and a fifty-two week high of $21.90.

Chefs' Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $325.08 million during the quarter, compared to analyst estimates of $322.78 million. Chefs' Warehouse had a return on equity of 5.08% and a net margin of 1.09%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. equities research analysts predict that Chefs' Warehouse will post 0.41 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its position in Chefs' Warehouse by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 69,210 shares of the company’s stock worth $900,000 after acquiring an additional 456 shares during the last quarter. Rhumbline Advisers lifted its holdings in Chefs' Warehouse by 8.2% during the 2nd quarter. Rhumbline Advisers now owns 21,000 shares of the company’s stock worth $273,000 after buying an additional 1,595 shares during the period. Bank of New York Mellon Corp lifted its holdings in Chefs' Warehouse by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,628 shares of the company’s stock worth $931,000 after buying an additional 554 shares during the period. Neuberger Berman Group LLC lifted its holdings in Chefs' Warehouse by 5.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 80,302 shares of the company’s stock worth $1,044,000 after buying an additional 4,135 shares during the period. Finally, Kennedy Capital Management Inc. acquired a new position in Chefs' Warehouse during the 2nd quarter worth about $1,057,000. Institutional investors own 72.96% of the company’s stock.

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Chefs' Warehouse Company Profile

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.

Analyst Recommendations for Chefs' Warehouse (NASDAQ:CHEF)

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