BTIG Research Reaffirms Buy Rating for Chefs’ Warehouse (NASDAQ:CHEF)

Chefs’ Warehouse (NASDAQ:CHEF)‘s stock had its “buy” rating reissued by research analysts at BTIG Research in a research report issued on Thursday,Benzinga reports. They currently have a $74.00 target price on the stock. BTIG Research’s price objective would indicate a potential upside of 8.12% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Zacks Research lowered Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. UBS Group boosted their price target on shares of Chefs’ Warehouse from $80.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chefs’ Warehouse in a report on Wednesday, January 21st. Benchmark lifted their price objective on shares of Chefs’ Warehouse from $79.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Finally, Morgan Stanley initiated coverage on shares of Chefs’ Warehouse in a research note on Monday, October 27th. They set an “overweight” rating and a $75.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chefs’ Warehouse has a consensus rating of “Hold” and an average target price of $77.67.

Chefs’ Warehouse Trading Up 0.9%

NASDAQ CHEF opened at $68.44 on Thursday. Chefs’ Warehouse has a one year low of $45.00 and a one year high of $69.47. The company has a 50-day simple moving average of $63.30 and a 200-day simple moving average of $62.01. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.05. The firm has a market capitalization of $2.78 billion, a PE ratio of 41.48 and a beta of 1.30.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. Chefs’ Warehouse had a net margin of 1.74% and a return on equity of 14.75%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. Chefs’ Warehouse’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts forecast that Chefs’ Warehouse will post 1.73 earnings per share for the current year.

Hedge Funds Weigh In On Chefs’ Warehouse

Several large investors have recently bought and sold shares of CHEF. HighTower Advisors LLC lifted its stake in shares of Chefs’ Warehouse by 1.7% in the 4th quarter. HighTower Advisors LLC now owns 9,536 shares of the company’s stock worth $594,000 after acquiring an additional 161 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Chefs’ Warehouse by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 18,437 shares of the company’s stock valued at $1,149,000 after acquiring an additional 183 shares during the period. Osaic Holdings Inc. raised its holdings in Chefs’ Warehouse by 30.7% during the second quarter. Osaic Holdings Inc. now owns 800 shares of the company’s stock worth $51,000 after purchasing an additional 188 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Chefs’ Warehouse by 1.2% in the third quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the company’s stock worth $974,000 after purchasing an additional 200 shares during the period. Finally, CWM LLC lifted its position in Chefs’ Warehouse by 10.5% in the fourth quarter. CWM LLC now owns 2,133 shares of the company’s stock worth $133,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 91.55% of the company’s stock.

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.