Chefs’ Warehouse Rating Lowered to Hold at BB&T Corp. (CHEF)
Chefs’ Warehouse (NASDAQ:CHEF) was downgraded by investment analysts at BB&T Corp. from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, American Banking News.com reports. They currently have a $29.00 price objective on the stock. BB&T Corp.’s price target suggests a potential upside of 23.40% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG downgraded shares of Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. Separately, analysts at Zacks upgraded shares of Chefs’ Warehouse from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, December 17th. They now have a $27.10 price target on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Chefs’ Warehouse from $24.00 to $27.00 in a research note to investors on Friday, November 1st. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Chefs’ Warehouse currently has a consensus rating of “Hold” and an average price target of $25.52.
Chefs’ Warehouse (NASDAQ:CHEF) traded down 13.95% during mid-day trading on Tuesday, hitting $23.50. The stock had a trading volume of 2,225,537 shares. Chefs’ Warehouse has a 52-week low of $15.66 and a 52-week high of $29.99. The stock has a 50-day moving average of $27.66 and a 200-day moving average of $24.11. The company has a market cap of $587.9 million and a price-to-earnings ratio of 36.41.
Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.21. The company had revenue of $170.58 million for the quarter, compared to the consensus estimate of $171.29 million. During the same quarter last year, the company posted $0.21 earnings per share. Chefs’ Warehouse’s revenue was up 36.7% compared to the same quarter last year. On average, analysts predict that Chefs’ Warehouse will post $0.90 earnings per share for the current fiscal year.
The Chefs’ Warehouse, Inc, formerly Chefs’ Warehouse Holdings, LLC, is a distributor of specialty food products in the United States.
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