Chefs’ Warehouse (NASDAQ:CHEF) Cut to “Buy” at BidaskClub

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BidaskClub cut shares of Chefs’ Warehouse (NASDAQ:CHEF) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday, BidAskClub reports.

CHEF has been the subject of several other research reports. TheStreet upgraded Chefs’ Warehouse from a c+ rating to a b- rating in a report on Friday, July 5th. Zacks Investment Research cut Chefs’ Warehouse from a hold rating to a sell rating in a research note on Monday, September 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Chefs’ Warehouse has an average rating of Hold and a consensus price target of $37.10.

NASDAQ:CHEF opened at $38.85 on Friday. The business has a 50 day simple moving average of $37.59 and a 200-day simple moving average of $33.96. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 49.81, a PEG ratio of 2.50 and a beta of 0.78. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.28 and a quick ratio of 1.40. Chefs’ Warehouse has a 1 year low of $29.56 and a 1 year high of $39.60.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its earnings results on Wednesday, July 31st. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $411.40 million for the quarter, compared to analysts’ expectations of $410.13 million. Chefs’ Warehouse had a return on equity of 8.55% and a net margin of 1.44%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. As a group, analysts expect that Chefs’ Warehouse will post 1.01 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atria Investments LLC boosted its holdings in Chefs’ Warehouse by 31.3% in the second quarter. Atria Investments LLC now owns 33,308 shares of the company’s stock worth $1,254,000 after purchasing an additional 7,931 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Chefs’ Warehouse by 19.5% in the 2nd quarter. Royal Bank of Canada now owns 43,495 shares of the company’s stock valued at $1,526,000 after purchasing an additional 7,090 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Chefs’ Warehouse during the 2nd quarter worth approximately $5,915,000. Citadel Advisors LLC bought a new stake in Chefs’ Warehouse during the 2nd quarter worth about $1,701,000. Finally, Cubist Systematic Strategies LLC bought a new position in Chefs’ Warehouse in the 2nd quarter valued at $637,000. 83.76% 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 products in the United States and Canada. Its product portfolio includes approximately 55,000 stock-keeping units comprising specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.

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