Chefs' Warehouse (NASDAQ:CHEF) Price Target Raised to $72.00 at UBS Group

Key Points

• UBS Group has raised the price target for Chefs' Warehouse (NASDAQ:CHEF) from $68.00 to $72.00, indicating a potential upside of 14.87% from its previous close.
• Chefs' Warehouse has shown solid performance, reporting $0.25 earnings per share, exceeding analyst expectations of $0.21, with revenue for the quarter reaching $950.75 million.
• The company has maintained a strong analyst consensus rating of "Buy" with seven analysts favoring the stock, reflecting growing investor confidence.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) had its price objective increased by equities research analysts at UBS Group from $68.00 to $72.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's target price would indicate a potential upside of 14.87% from the stock's previous close.

Other equities analysts have also issued research reports about the company. BTIG Research reissued a "buy" rating on shares of Chefs' Warehouse in a report on Friday, May 23rd. Wall Street Zen raised Chefs' Warehouse from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Chefs' Warehouse presently has an average rating of "Buy" and a consensus price target of $68.20.

Chefs' Warehouse Stock Up 0.7%

Shares of CHEF traded up $0.45 during mid-day trading on Monday, reaching $62.68. The company's stock had a trading volume of 319,248 shares, compared to its average volume of 489,580. The company's 50 day moving average is $63.43 and its 200 day moving average is $58.69. The stock has a market cap of $2.55 billion, a PE ratio of 41.51 and a beta of 1.74. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.05 and a quick ratio of 1.27. Chefs' Warehouse has a 12-month low of $35.59 and a 12-month high of $68.28.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.25 earnings per share (EPS) 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 1.65% and a return on equity of 13.15%. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. Equities analysts anticipate that Chefs' Warehouse will post 1.73 EPS for the current fiscal year.

Insider Activity at Chefs' Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $65.07, for a total value of $1,138,725.00. Following the completion of the sale, the chief accounting officer directly owned 52,050 shares of the company's stock, valued at $3,386,893.50. This trade represents a 25.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.90% of the stock is owned by corporate insiders.

Institutional Trading of Chefs' Warehouse

Hedge funds have recently modified their holdings of the business. CWM LLC increased its stake in Chefs' Warehouse by 50.6% in the 1st quarter. CWM LLC now owns 542 shares of the company's stock valued at $30,000 after purchasing an additional 182 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Chefs' Warehouse during the first quarter worth $37,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Chefs' Warehouse during the first quarter worth $46,000. GAMMA Investing LLC grew its position 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 valued at $84,000 after purchasing an additional 335 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Chefs' Warehouse in the first quarter valued at $98,000. 91.55% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.