Chefs’ Warehouse (NASDAQ:CHEF) Reaches New 1-Year High – Still a Buy?

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) hit a new 52-week high on Wednesday . The company traded as high as $69.75 and last traded at $68.47, with a volume of 294014 shares trading hands. The stock had previously closed at $68.44.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CHEF shares. Benchmark reiterated a “buy” rating on shares of Chefs’ Warehouse in a research report on Thursday, February 12th. Zacks Research cut shares of Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Wolfe Research set a $84.00 target price on Chefs’ Warehouse in a report on Thursday, February 12th. UBS Group increased their price target on Chefs’ Warehouse from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Finally, Morgan Stanley assumed coverage on Chefs’ Warehouse in a research note on Monday, October 27th. They issued an “overweight” rating and a $75.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.67.

Chefs’ Warehouse Stock Up 0.0%

The company has a debt-to-equity ratio of 1.19, a current ratio of 2.05 and a quick ratio of 1.23. The stock has a market capitalization of $2.79 billion, a P/E ratio of 41.50 and a beta of 1.30. The stock’s fifty day moving average is $63.65 and its two-hundred day moving average is $61.99.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. Chefs’ Warehouse had a return on equity of 14.75% and a net margin of 1.74%.The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, research analysts predict that The Chefs’ Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Institutional Trading of Chefs’ Warehouse

A number of hedge funds have recently bought and sold shares of CHEF. Hantz Financial Services Inc. boosted its holdings in shares of Chefs’ Warehouse by 229.5% in the fourth quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock worth $29,000 after buying an additional 319 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Chefs’ Warehouse by 515.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock valued at $31,000 after acquiring an additional 438 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Chefs’ Warehouse in the 4th quarter worth approximately $31,000. Center for Financial Planning Inc. purchased a new position in Chefs’ Warehouse during the 2nd quarter worth approximately $35,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Chefs’ Warehouse during the 3rd quarter valued at $39,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

About Chefs’ Warehouse

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.