Chefs' Warehouse (NASDAQ:CHEF) Raised to "Buy" at Wall Street Zen

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Other research 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. UBS Group upped their target price on Chefs' Warehouse from $67.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Benchmark reiterated a "buy" rating and set a $68.00 price target on shares of Chefs' Warehouse in a report on Monday, March 17th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $67.40.

Chefs' Warehouse Stock Up 1.0%

NASDAQ CHEF traded up $0.60 during trading on Friday, reaching $61.50. The company's stock had a trading volume of 943,857 shares, compared to its average volume of 418,933. The company has a current ratio of 2.05, a quick ratio of 1.27 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $2.50 billion, a PE ratio of 40.73 and a beta of 1.77. Chefs' Warehouse has a 1-year low of $35.59 and a 1-year high of $66.51. The business has a 50-day moving average price of $60.19 and a 200-day moving average price of $56.00.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The business had revenue of $950.75 million during 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%. Chefs' Warehouse's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 EPS. On average, research analysts forecast that Chefs' Warehouse will post 1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chefs' Warehouse

Several large investors have recently made changes to their positions in the business. CWM LLC grew its holdings 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 buying an additional 182 shares during the last quarter. 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 last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Chefs' Warehouse in the first quarter worth $37,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Chefs' Warehouse during the first quarter worth $46,000. Finally, GAMMA Investing LLC increased its position in Chefs' Warehouse by 27.9% during 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. Institutional investors and hedge funds 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.