The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $14.00 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 15.70% from the company’s current price.

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. “

CHEF has been the subject of a number of other research reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of The Chefs’ Warehouse in a research report on Thursday, June 1st. Canaccord Genuity started coverage on shares of The Chefs’ Warehouse in a research report on Tuesday, July 4th. They set a “buy” rating and a $18.00 price objective for the company. ValuEngine raised shares of The Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Loop Capital started coverage on shares of The Chefs’ Warehouse in a research report on Monday, May 15th. They set a “buy” rating and a $18.00 price objective for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $16.29.

Shares of The Chefs’ Warehouse (CHEF) traded down 1.63% during midday trading on Tuesday, hitting $12.10. The stock had a trading volume of 60,854 shares. The firm has a 50 day moving average price of $14.87 and a 200-day moving average price of $14.89. The stock has a market cap of $318.85 million, a PE ratio of 806.67 and a beta of 1.11. The Chefs’ Warehouse has a 52-week low of $10.31 and a 52-week high of $17.15.

The Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings results on Tuesday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The business had revenue of $287.70 million during the quarter, compared to the consensus estimate of $284.45 million. The Chefs’ Warehouse had a net margin of 0.03% and a return on equity of 4.75%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 EPS. Equities analysts predict that The Chefs’ Warehouse will post $0.38 EPS for the current fiscal year.

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A number of institutional investors have recently modified their holdings of CHEF. American International Group Inc. boosted its position in shares of The Chefs’ Warehouse by 7.1% in the first quarter. American International Group Inc. now owns 11,917 shares of the company’s stock valued at $166,000 after buying an additional 791 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of The Chefs’ Warehouse by 6.7% in the first quarter. Nationwide Fund Advisors now owns 14,468 shares of the company’s stock valued at $201,000 after buying an additional 906 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of The Chefs’ Warehouse by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 71,074 shares of the company’s stock valued at $988,000 after buying an additional 1,871 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of The Chefs’ Warehouse by 3.5% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 79,978 shares of the company’s stock valued at $1,112,000 after buying an additional 2,714 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of The Chefs’ Warehouse by 6.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 68,754 shares of the company’s stock valued at $956,000 after buying an additional 4,104 shares in the last quarter. 76.99% of the stock is owned by institutional investors.

The Chefs’ Warehouse Company Profile

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. The Company 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.

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

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