The Chefs’ Warehouse (NASDAQ:CHEF) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of The Chefs’ Warehouse (NASDAQ:CHEF) from a sell rating to a hold rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Chefs’ Warehouse Holdings, LLC is a distributor of specialty food products in the United States. The Company is focused on serving the specific needs of chefs who own and/or operate restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools and specialty food stores. Its product portfolio includes artisan charcuterie, specialty cheeses, unique oils and vinegars, hormone-free protein, truffles, caviar, and chocolate. It also offers cooking oils, butter, eggs, milk, and flour. Chefs’ Warehouse Holdings, LLC is based in Ridgefield, Connecticut. “

Several other research analysts have also recently issued reports on the stock. Lake Street Capital initiated coverage on shares of The Chefs’ Warehouse in a report on Monday, April 5th. They set a buy rating and a $38.00 target price on the stock. BTIG Research increased their price objective on shares of The Chefs’ Warehouse from $30.00 to $36.00 and gave the company a buy rating in a research note on Thursday, February 11th. Finally, TheStreet raised shares of The Chefs’ Warehouse from a d+ rating to a c- rating in a research note on Thursday, March 18th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $25.43.

Shares of NASDAQ CHEF opened at $33.90 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.52 and a current ratio of 3.25. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -33.90 and a beta of 2.46. The stock has a 50 day moving average price of $31.64 and a 200 day moving average price of $25.02. The Chefs’ Warehouse has a 52-week low of $10.54 and a 52-week high of $34.48.

The Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Tuesday, February 9th. The company reported ($0.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.18). The Chefs’ Warehouse had a negative net margin of 2.78% and a negative return on equity of 10.71%. The firm had revenue of $281.67 million for the quarter, compared to the consensus estimate of $272.88 million. During the same period last year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was down 34.0% on a year-over-year basis. Analysts forecast that The Chefs’ Warehouse will post -1.74 earnings per share for the current year.

In other The Chefs’ Warehouse news, General Counsel Alexandros Aldous sold 20,000 shares of The Chefs’ Warehouse stock in a transaction on Thursday, March 18th. The shares were sold at an average price of $30.69, for a total value of $613,800.00. Following the transaction, the general counsel now directly owns 121,899 shares of the company’s stock, valued at $3,741,080.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 17.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Navis Wealth Advisors LLC acquired a new position in shares of The Chefs’ Warehouse during the fourth quarter valued at about $32,000. Eaton Vance Management acquired a new position in The Chefs’ Warehouse during the 4th quarter valued at approximately $9,774,000. UBS Asset Management Americas Inc. raised its holdings in shares of The Chefs’ Warehouse by 9.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 35,681 shares of the company’s stock worth $917,000 after buying an additional 3,115 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of The Chefs’ Warehouse by 61.4% during the fourth quarter. JPMorgan Chase & Co. now owns 58,990 shares of the company’s stock worth $1,515,000 after buying an additional 22,435 shares during the period. Finally, Perry Creek Capital LP purchased a new stake in shares of The Chefs’ Warehouse during the fourth quarter valued at $1,346,000. 78.77% of the stock is owned by institutional investors and hedge funds.

About The Chefs’ Warehouse

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 The Chefs` Warehouse (NASDAQ:CHEF)

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