Chefs' Warehouse (NASDAQ:CHEF) Rating Lowered to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Chefs' Warehouse (NASDAQ:CHEF - Free Report) from a buy rating to a hold rating in a report issued on Saturday.

A number of other equities analysts have also commented on CHEF. BMO Capital Markets increased their price target on shares of Chefs' Warehouse from $60.00 to $73.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Benchmark reissued a "buy" rating and set a $68.00 price target on shares of Chefs' Warehouse in a research report on Monday, March 17th. Lake Street Capital raised their target price on shares of Chefs' Warehouse from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. BTIG Research reaffirmed a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. Finally, UBS Group increased their price target on shares of Chefs' Warehouse from $67.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Chefs' Warehouse presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.40.

Chefs' Warehouse Stock Performance

Shares of CHEF stock traded up $0.35 during trading on Friday, reaching $63.15. 244,151 shares of the company's stock traded hands, compared to its average volume of 412,776. The firm's 50-day moving average is $58.09 and its 200 day moving average is $54.80. The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $2.57 billion, a P/E ratio of 48.21 and a beta of 1.77. Chefs' Warehouse has a 1 year low of $35.59 and a 1 year high of $66.51.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.04. The business had revenue of $950.75 million for the quarter, compared to analyst estimates of $927.34 million. Chefs' Warehouse had a net margin of 1.46% and a return on equity of 12.90%. Chefs' Warehouse's revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. Equities research analysts expect that Chefs' Warehouse will post 1.73 EPS for the current year.

Institutional Trading of Chefs' Warehouse

A number of large investors have recently made changes to their positions in CHEF. Smartleaf Asset Management LLC grew its stake in shares of Chefs' Warehouse by 303.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 593 shares of the company's stock worth $29,000 after acquiring an additional 446 shares during the period. CWM LLC grew its stake in shares of Chefs' Warehouse by 50.6% in the first quarter. CWM LLC now owns 542 shares of the company's stock worth $30,000 after acquiring an additional 182 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Chefs' Warehouse in the first quarter worth approximately $37,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Chefs' Warehouse in the first quarter worth approximately $46,000. Finally, GAMMA Investing LLC grew its stake in shares of Chefs' Warehouse by 27.9% in the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock worth $84,000 after acquiring an additional 335 shares during the period. 91.55% of the stock is currently owned by institutional investors.

Chefs' Warehouse Company Profile

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.