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

Key Points

• Chefs' Warehouse has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, signaling positive sentiment towards the stock.
• Multiple analysts have revised their price targets for Chefs' Warehouse, with UBS Group raising it from $68 to $72 and Benchmark from $68 to $79.
• The company's recent quarterly earnings showed an increase in revenue to $1.03 billion, surpassing analysts' expectations, and a reported EPS of $0.52, beating estimates by $0.07.

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

Several other equities analysts have also commented on the stock. UBS Group upped their price target on shares of Chefs' Warehouse from $68.00 to $72.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Benchmark upped their price objective on shares of Chefs' Warehouse from $68.00 to $79.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Zacks Research raised shares of Chefs' Warehouse from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. Piper Sandler assumed coverage on shares of Chefs' Warehouse in a report on Wednesday, August 27th. They issued a "neutral" rating and a $66.00 price objective for the company. Finally, BTIG Research reaffirmed a "buy" rating on shares of Chefs' Warehouse in a report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Chefs' Warehouse has an average rating of "Buy" and an average target price of $69.67.

Chefs' Warehouse Stock Up 2.4%

Shares of NASDAQ CHEF traded up $1.42 during trading on Friday, reaching $61.42. 23,816 shares of the stock were exchanged, compared to its average volume of 484,906. The company has a quick ratio of 1.17, a current ratio of 2.01 and a debt-to-equity ratio of 1.24. The business's 50-day moving average price is $64.15 and its 200 day moving average price is $60.55. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 38.09 and a beta of 1.76. Chefs' Warehouse has a twelve month low of $38.36 and a twelve month high of $68.94.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. Chefs' Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The business's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Chefs' Warehouse has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Chefs' Warehouse will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling at Chefs' Warehouse

In other news, CAO Tim Mccauley sold 17,500 shares of the 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 approximately $3,386,893.50. This represents a 25.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.50% of the company's stock.

Institutional Investors Weigh In On Chefs' Warehouse

Several hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. boosted its position in shares of Chefs' Warehouse by 30.7% in the second quarter. Osaic Holdings Inc. now owns 800 shares of the company's stock valued at $51,000 after acquiring an additional 188 shares during the period. Hudson Bay Capital Management LP bought a new position in Chefs' Warehouse in the second quarter worth $5,600,000. Public Sector Pension Investment Board lifted its position in Chefs' Warehouse by 8.4% in the second quarter. Public Sector Pension Investment Board now owns 120,698 shares of the company's stock worth $7,702,000 after purchasing an additional 9,330 shares during the period. Tower Research Capital LLC TRC lifted its position in Chefs' Warehouse by 478.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,351 shares of the company's stock worth $278,000 after purchasing an additional 3,599 shares during the period. Finally, State of Tennessee Department of Treasury lifted its position in Chefs' Warehouse by 86.6% in the second quarter. State of Tennessee Department of Treasury now owns 15,682 shares of the company's stock worth $1,001,000 after purchasing an additional 7,279 shares during the period. 91.55% of the stock is owned by institutional investors.

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.