Chefs’ Warehouse (NASDAQ:CHEF) Stock Rating Upgraded by Zacks Research

Chefs’ Warehouse (NASDAQ:CHEF) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Wall Street Zen upgraded Chefs’ Warehouse from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. UBS Group boosted their target price on Chefs’ Warehouse from $114.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Chefs’ Warehouse in a report on Wednesday, July 29th. Benchmark increased their price target on Chefs’ Warehouse from $106.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley lifted their price objective on Chefs’ Warehouse from $97.00 to $104.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Chefs’ Warehouse has an average rating of “Moderate Buy” and a consensus price target of $107.43.

Chefs’ Warehouse Stock Up 1.6%

Shares of CHEF opened at $111.07 on Tuesday. The company’s 50-day simple moving average is $97.34 and its 200-day simple moving average is $78.29. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.31 and a current ratio of 2.15. Chefs’ Warehouse has a 1 year low of $53.20 and a 1 year high of $117.33. The stock has a market capitalization of $4.53 billion, a PE ratio of 52.89 and a beta of 1.39.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.19. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Chefs’ Warehouse had a net margin of 2.09% and a return on equity of 16.95%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. Analysts forecast that Chefs’ Warehouse will post 2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chefs’ Warehouse news, insider Christina Polychroni sold 4,500 shares of Chefs’ Warehouse stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $79.21, for a total transaction of $356,445.00. Following the completion of the sale, the insider directly owned 24,642 shares of the company’s stock, valued at $1,951,892.82. The trade was a 15.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chefs’ Warehouse

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

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.