Zacks Investment Research downgraded shares of The Chefs’ Warehouse Inc. (NASDAQ:CHEF) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

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 analysts have also recently issued reports on CHEF. JPMorgan Chase & Co. reissued a hold rating and set a $15.00 price target on shares of The Chefs’ Warehouse in a research report on Wednesday, August 3rd. Barclays PLC initiated coverage on shares of The Chefs’ Warehouse in a research report on Friday, September 23rd. They set an equal weight rating and a $12.00 price target on the stock. Finally, Jefferies Group reissued a buy rating and set a $14.00 price target (down previously from $15.00) on shares of The Chefs’ Warehouse in a research report on Friday, September 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $14.80.

Analyst Recommendations for The Chefs` Warehouse (NASDAQ:CHEF)

Shares of The Chefs’ Warehouse (NASDAQ:CHEF) opened at 13.20 on Tuesday. The stock has a market cap of $346.55 million, a P/E ratio of 628.57 and a beta of 1.32. The Chefs’ Warehouse has a 52-week low of $10.31 and a 52-week high of $20.79. The firm’s 50-day moving average is $12.30 and its 200 day moving average is $13.39.

The Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The business had revenue of $297.90 million for the quarter, compared to analyst estimates of $299.70 million. The Chefs’ Warehouse had a return on equity of 7.47% and a net margin of 0.05%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. Analysts forecast that The Chefs’ Warehouse will post $0.43 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP bought a new position in shares of The Chefs’ Warehouse during the third quarter valued at approximately $116,000. BlackRock Advisors LLC raised its position in shares of The Chefs’ Warehouse by 11.4% in the third quarter. BlackRock Advisors LLC now owns 10,593 shares of the company’s stock valued at $118,000 after buying an additional 1,082 shares in the last quarter. Wedbush Securities Inc. raised its position in shares of The Chefs’ Warehouse by 3.9% in the third quarter. Wedbush Securities Inc. now owns 12,562 shares of the company’s stock valued at $140,000 after buying an additional 474 shares in the last quarter. Creative Planning bought a new position in shares of The Chefs’ Warehouse during the third quarter valued at approximately $154,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of The Chefs’ Warehouse during the third quarter valued at approximately $161,000. Institutional investors own 76.59% of the company’s stock.

About The Chefs’ Warehouse

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. It 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.

5 Day Chart for NASDAQ:CHEF

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