Chefs’ Warehouse (NASDAQ:CHEF) Upgraded to Hold at Zacks Investment Research

Share on StockTwits

Chefs’ Warehouse (NASDAQ:CHEF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

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 topic of a number of other research reports. TheStreet upgraded shares of Chefs’ Warehouse from a “c+” rating to a “b-” rating in a research note on Friday, July 5th. BidaskClub downgraded shares of Chefs’ Warehouse from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $37.10.

Shares of CHEF traded up $1.83 during mid-day trading on Wednesday, reaching $40.68. The company had a trading volume of 402,383 shares, compared to its average volume of 169,638. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.40 and a current ratio of 2.28. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 52.15, a price-to-earnings-growth ratio of 2.56 and a beta of 0.78. The firm has a 50-day moving average price of $37.59 and a 200 day moving average price of $33.96. Chefs’ Warehouse has a 52 week low of $29.56 and a 52 week high of $40.68.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.03. Chefs’ Warehouse had a return on equity of 8.55% and a net margin of 1.44%. The company had revenue of $411.40 million during the quarter, compared to analyst estimates of $410.13 million. During the same quarter last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts forecast that Chefs’ Warehouse will post 1.01 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the business. C M Bidwell & Associates Ltd. bought a new position in shares of Chefs’ Warehouse during the second quarter valued at $45,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Chefs’ Warehouse by 57.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,160 shares of the company’s stock worth $67,000 after buying an additional 784 shares during the last quarter. Aperio Group LLC bought a new position in Chefs’ Warehouse during the 2nd quarter valued at about $74,000. Avestar Capital LLC bought a new position in Chefs’ Warehouse during the 1st quarter valued at about $77,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Chefs’ Warehouse by 1,074.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,520 shares of the company’s stock valued at $140,000 after acquiring an additional 4,135 shares during the last quarter. 83.76% of the stock is owned by institutional investors and hedge funds.

About Chefs’ Warehouse

The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food products in the United States and Canada. Its product portfolio includes approximately 55,000 stock-keeping units comprising specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.

Featured Article: What are momentum indicators and what do they show?

Get a free copy of the Zacks research report on Chefs’ Warehouse (CHEF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Chefs' Warehouse Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chefs' Warehouse and related companies with MarketBeat.com's FREE daily email newsletter.