Chefs' Warehouse (NASDAQ:CHEF) Shares Up 4.4% - Time to Buy?

Shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Get Free Report) rose 4.4% during trading on Monday . The company traded as high as $66.67 and last traded at $66.75. Approximately 651,064 shares were traded during mid-day trading, an increase of 53% from the average daily volume of 426,373 shares. The stock had previously closed at $63.94.

Analysts Set New Price Targets

CHEF has been the subject of a number of research reports. Benchmark reiterated a "buy" rating and issued a $68.00 price objective on shares of Chefs' Warehouse in a research report on Monday, March 17th. Wall Street Zen upgraded Chefs' Warehouse from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. BTIG Research reissued a "buy" rating on shares of Chefs' Warehouse in a report on Friday, May 23rd. Finally, UBS Group increased their target price on Chefs' Warehouse from $67.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $67.40.

Chefs' Warehouse Stock Performance

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 fifty day moving average price of $62.68 and a 200-day moving average price of $57.28. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 41.56 and a beta of 1.74.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.04. Chefs' Warehouse had a return on equity of 13.15% and a net margin of 1.65%. The firm had revenue of $950.75 million during the quarter, compared to analysts' expectations of $927.34 million. During the same period last year, the firm posted $0.15 EPS. The business's revenue was up 8.7% on a year-over-year basis. As a group, analysts anticipate that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chefs' Warehouse

Hedge funds and other institutional investors have recently bought and sold shares of the business. New Age Alpha Advisors LLC acquired a new stake in Chefs' Warehouse during the 4th quarter valued at $2,849,000. Bank of New York Mellon Corp boosted its position in Chefs' Warehouse by 118.7% in the 4th quarter. Bank of New York Mellon Corp now owns 512,830 shares of the company's stock valued at $25,293,000 after buying an additional 278,295 shares during the last quarter. Squarepoint Ops LLC bought a new position in Chefs' Warehouse in the 4th quarter valued at $252,000. Proficio Capital Partners LLC bought a new position in Chefs' Warehouse in the 4th quarter valued at $589,000. Finally, GAMMA Investing LLC boosted its position in Chefs' Warehouse by 6,863.8% in the 1st quarter. GAMMA Investing LLC now owns 83,705 shares of the company's stock valued at $4,559,000 after buying an additional 82,503 shares during 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.