Chefs' Warehouse (NASDAQ:CHEF) Upgraded by Wall Street Zen to "Buy" Rating

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 report issued to clients and investors on Saturday.

CHEF has been the subject of several other research reports. BTIG Research reaffirmed a "buy" rating on shares of Chefs' Warehouse in a research note on Friday, May 23rd. UBS Group boosted their price objective on Chefs' Warehouse from $67.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Benchmark restated a "buy" rating and set a $68.00 target price on shares of Chefs' Warehouse in a report on Monday, March 17th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $67.40.

Chefs' Warehouse Trading Up 2.4%

Chefs' Warehouse stock traded up $1.53 during midday trading on Friday, hitting $64.41. 708,099 shares of the stock were exchanged, compared to its average volume of 419,540. 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's 50-day simple moving average is $60.36 and its 200 day simple moving average is $56.16. Chefs' Warehouse has a fifty-two week low of $35.59 and a fifty-two week high of $66.51. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 42.66 and a beta of 1.77.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $927.34 million. Chefs' Warehouse had a net margin of 1.65% and a return on equity of 13.15%. The business's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 EPS. On average, equities analysts anticipate that Chefs' Warehouse will post 1.73 EPS for the current year.

Hedge Funds Weigh In On Chefs' Warehouse

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. New Age Alpha Advisors LLC acquired a new stake in shares of Chefs' Warehouse during the 4th quarter worth about $2,849,000. Bank of New York Mellon Corp boosted its stake in shares of Chefs' Warehouse by 118.7% during the fourth quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company's stock worth $25,293,000 after buying an additional 278,295 shares during the period. Squarepoint Ops LLC acquired a new stake in Chefs' Warehouse during the 4th quarter worth approximately $252,000. Proficio Capital Partners LLC purchased a new position in Chefs' Warehouse in the 4th quarter valued at $589,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Chefs' Warehouse by 6,863.8% in the first quarter. GAMMA Investing LLC now owns 83,705 shares of the company's stock valued at $4,559,000 after acquiring an additional 82,503 shares in the last quarter. 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.