Chefs' Warehouse (NASDAQ:CHEF) Stock Rating Lowered by Wall Street Zen

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

A number of other research analysts also recently issued reports on CHEF. UBS Group boosted their price objective on Chefs' Warehouse from $67.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Lake Street Capital lifted their price target on shares of Chefs' Warehouse from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Benchmark reiterated a "buy" rating and issued a $68.00 price target on shares of Chefs' Warehouse in a research report on Monday, March 17th. BTIG Research restated a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. Finally, BMO Capital Markets lifted their target price on shares of Chefs' Warehouse from $60.00 to $73.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $67.40.

Chefs' Warehouse Stock Performance

CHEF stock traded down $0.76 on Friday, hitting $62.66. The company had a trading volume of 258,594 shares, compared to its average volume of 412,664. The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 1.28. Chefs' Warehouse has a 12-month low of $35.59 and a 12-month high of $66.51. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 47.83 and a beta of 1.77. The stock's 50-day simple moving average is $58.46 and its 200 day simple moving average is $55.06.

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

Institutional Trading of Chefs' Warehouse

A number of large investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its stake in Chefs' Warehouse by 1.7% in the 1st quarter. Rhumbline Advisers now owns 95,003 shares of the company's stock worth $5,174,000 after buying an additional 1,623 shares during the period. Strs Ohio bought a new position in Chefs' Warehouse in the 1st quarter worth about $98,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Chefs' Warehouse by 50.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,382 shares of the company's stock worth $7,101,000 after acquiring an additional 43,593 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Chefs' Warehouse during the first quarter worth approximately $696,000. Finally, Select Equity Group L.P. raised its stake in shares of Chefs' Warehouse by 524.7% during the first quarter. Select Equity Group L.P. now owns 452,843 shares of the company's stock valued at $24,662,000 after acquiring an additional 380,356 shares in the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

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.