Chefs' Warehouse (NASDAQ:CHEF) Stock Price Expected to Rise, Benchmark Analyst Says

Key Points

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Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) had its price objective upped by Benchmark from $68.00 to $79.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Benchmark's price objective indicates a potential upside of 17.18% from the company's previous close.

A number of other equities analysts have also commented on CHEF. BTIG Research restated a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. Wall Street Zen raised Chefs' Warehouse from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, UBS Group boosted their price target on Chefs' Warehouse from $68.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $70.40.

Chefs' Warehouse Stock Performance

Shares of Chefs' Warehouse stock traded down $1.14 on Thursday, hitting $67.42. The stock had a trading volume of 612,985 shares, compared to its average volume of 530,325. Chefs' Warehouse has a twelve month low of $35.59 and a twelve month high of $68.94. The business's 50 day moving average is $63.61 and its two-hundred day moving average is $59.10. The company has a quick ratio of 1.27, a current ratio of 2.01 and a debt-to-equity ratio of 1.24. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 42.14 and a beta of 1.83.

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, beating the consensus estimate of $0.45 by $0.07. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. Chefs' Warehouse had a return on equity of 13.60% and a net margin of 1.76%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Analysts forecast that Chefs' Warehouse will post 1.73 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Tim Mccauley sold 17,500 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $65.07, for a total transaction of $1,138,725.00. Following the sale, the chief accounting officer owned 52,050 shares in the company, valued at $3,386,893.50. The trade was a 25.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chefs' Warehouse

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in Chefs' Warehouse by 5.0% during the 1st quarter. Principal Financial Group Inc. now owns 192,764 shares of the company's stock worth $10,498,000 after acquiring an additional 9,142 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Chefs' Warehouse by 196.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 30,816 shares of the company's stock valued at $1,678,000 after buying an additional 20,404 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in shares of Chefs' Warehouse by 103.1% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 19,075 shares of the company's stock valued at $1,038,000 after buying an additional 9,684 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Chefs' Warehouse in the 1st quarter valued at about $289,000. Finally, GAMMA Investing LLC grew its position in shares of Chefs' Warehouse by 27.9% in the 1st quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock valued at $84,000 after buying an additional 335 shares during the last quarter. Institutional investors own 91.55% of the company's stock.

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.