The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Given Average Recommendation of “Buy” by Brokerages

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) has been given a consensus recommendation of “Buy” by the five analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $67.60.

Several research firms have recently commented on CHEF. Lake Street Capital raised their price objective on Chefs’ Warehouse from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group increased their price objective on shares of Chefs’ Warehouse from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Benchmark restated a “buy” rating and set a $68.00 target price on shares of Chefs’ Warehouse in a research note on Monday, March 17th. UBS Group raised their price target on Chefs’ Warehouse from $60.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, BMO Capital Markets upped their price objective on Chefs’ Warehouse from $60.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th.

Chefs’ Warehouse Stock Up 1.3 %

CHEF stock opened at $55.17 on Wednesday. The stock has a market capitalization of $2.22 billion, a P/E ratio of 42.11 and a beta of 2.28. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.04 and a quick ratio of 1.30. Chefs’ Warehouse has a 1-year low of $31.96 and a 1-year high of $66.51. The business has a fifty day moving average price of $57.03 and a 200-day moving average price of $48.94.

Chefs’ Warehouse (NASDAQ:CHEF) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Chefs’ Warehouse had a return on equity of 12.90% and a net margin of 1.46%. Equities analysts forecast that Chefs’ Warehouse will post 1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chefs’ Warehouse

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in shares of Chefs’ Warehouse by 193.1% during the fourth quarter. Wellington Management Group LLP now owns 2,445,626 shares of the company’s stock valued at $120,618,000 after purchasing an additional 1,611,240 shares during the period. Pictet Asset Management Holding SA bought a new stake in shares of Chefs’ Warehouse in the 4th quarter valued at about $20,374,000. TimesSquare Capital Management LLC purchased a new position in Chefs’ Warehouse in the fourth quarter worth $19,493,000. Cercano Management LLC acquired a new position in Chefs’ Warehouse during the 4th quarter valued at about $18,481,000. Finally, Bank of New York Mellon Corp raised its position in shares of 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 purchasing an additional 278,295 shares during the last quarter. 91.55% of the stock is owned by institutional investors.

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.