BTIG Research Reiterates Buy Rating for Chefs' Warehouse (NASDAQ:CHEF)

Key Points

• BTIG Research has reiterated its buy rating for Chefs' Warehouse (NASDAQ:CHEF), setting a price target of $74.00, which indicates a potential upside of 26.93% from the previous close.
• Despite the positive outlook from BTIG, other analysts have downgraded their ratings for the stock, with Zacks Research and Wall Street Zen both moving to a "hold" rating.
• Chefs' Warehouse reported a net margin of 1.76% and an earnings per share (EPS) of $0.52 for the last quarter, beating the consensus estimate by $0.07.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at BTIG Research in a note issued to investors on Tuesday,Benzinga reports. They currently have a $74.00 target price on the stock. BTIG Research's price objective suggests a potential upside of 26.93% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Chefs' Warehouse from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Zacks Research lowered shares of Chefs' Warehouse from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Weiss Ratings lowered shares of Chefs' Warehouse from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Benchmark lifted their price objective on shares of Chefs' Warehouse from $68.00 to $79.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Piper Sandler started coverage on shares of Chefs' Warehouse in a research note on Wednesday, August 27th. They issued a "neutral" rating and a $66.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Chefs' Warehouse currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.29.

Chefs' Warehouse Stock Up 0.3%

NASDAQ:CHEF opened at $58.30 on Tuesday. The firm's 50 day simple moving average is $61.31 and its 200 day simple moving average is $61.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.01 and a quick ratio of 1.17. Chefs' Warehouse has a one year low of $38.65 and a one year high of $68.94. The company has a market cap of $2.38 billion, a PE ratio of 36.44 and a beta of 1.75.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. Chefs' Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $0.40 EPS. The firm's revenue was up 8.4% compared to the same quarter last year. Chefs' Warehouse has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Chefs' Warehouse will post 1.73 earnings per share for the current year.

Institutional Trading of Chefs' Warehouse

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC boosted its holdings in shares of Chefs' Warehouse by 50.6% in the 1st quarter. CWM LLC now owns 542 shares of the company's stock worth $30,000 after buying an additional 182 shares during the last quarter. Osaic Holdings Inc. raised its stake in Chefs' Warehouse by 30.7% in the 2nd quarter. Osaic Holdings Inc. now owns 800 shares of the company's stock valued at $51,000 after acquiring an additional 188 shares during the period. Tidal Investments LLC raised its stake in Chefs' Warehouse by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 4,341 shares of the company's stock valued at $277,000 after acquiring an additional 204 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in shares of Chefs' Warehouse by 0.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 30,491 shares of the company's stock worth $1,946,000 after buying an additional 212 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Chefs' Warehouse by 6.4% in the second quarter. Ameritas Investment Partners Inc. now owns 3,725 shares of the company's stock worth $238,000 after buying an additional 225 shares in the last quarter. Institutional investors own 91.55% of the company's stock.

About Chefs' Warehouse

The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company's product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.

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