Benchmark Reaffirms Buy Rating for Chefs' Warehouse (NASDAQ:CHEF)

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report)'s stock had its "buy" rating restated by research analysts at Benchmark in a note issued to investors on Thursday, Benzinga reports. They presently have a $50.00 price target on the stock. Benchmark's price objective suggests a potential upside of 35.35% from the stock's current price.

Several other brokerages have also commented on CHEF. UBS Group upped their price target on Chefs' Warehouse from $36.00 to $44.00 and gave the company a "buy" rating in a research note on Thursday, February 15th. BMO Capital Markets raised their price target on Chefs' Warehouse from $35.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, February 16th.

Chefs' Warehouse Stock Performance

Shares of NASDAQ:CHEF traded up $2.02 during mid-day trading on Thursday, reaching $36.94. 709,505 shares of the company traded hands, compared to its average volume of 377,039. The firm has a market cap of $1.47 billion, a PE ratio of 42.78 and a beta of 2.22. Chefs' Warehouse has a 52 week low of $17.29 and a 52 week high of $39.00. The company's 50 day moving average price is $35.78 and its 200-day moving average price is $30.69. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.89 and a quick ratio of 1.16.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.08. Chefs' Warehouse had a return on equity of 12.30% and a net margin of 1.01%. The company had revenue of $874.50 million for the quarter, compared to analyst estimates of $833.25 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The firm's quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities analysts expect that Chefs' Warehouse will post 1.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Chefs' Warehouse

A number of institutional investors have recently made changes to their positions in CHEF. Jennison Associates LLC increased its stake in Chefs' Warehouse by 2.2% during the first quarter. Jennison Associates LLC now owns 760,352 shares of the company's stock worth $28,635,000 after acquiring an additional 16,104 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in Chefs' Warehouse in the first quarter valued at about $229,000. Verdence Capital Advisors LLC purchased a new position in Chefs' Warehouse in the first quarter valued at about $232,000. Penn Capital Management Company LLC purchased a new position in Chefs' Warehouse in the fourth quarter valued at about $12,495,000. Finally, Granahan Investment Management LLC lifted its holdings in Chefs' Warehouse by 138.5% during the 4th quarter. Granahan Investment Management LLC now owns 794,541 shares of the company's stock worth $23,383,000 after buying an additional 461,455 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.