Chefs’ Warehouse (NASDAQ:CHEF) Receives “Buy” Rating from BTIG Research

BTIG Research restated their buy rating on shares of Chefs’ Warehouse (NASDAQ:CHEF) in a report released on Tuesday morning,Benzinga reports. The firm currently has a $74.00 target price on the stock.

A number of other research analysts have also recently issued reports on CHEF. Weiss Ratings cut shares of Chefs’ Warehouse from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Benchmark raised their price target on Chefs’ Warehouse from $68.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Wall Street Zen downgraded Chefs’ Warehouse from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Piper Sandler began coverage on Chefs’ Warehouse in a research note on Wednesday, August 27th. They issued a “neutral” rating and a $66.00 price objective on the stock. Finally, UBS Group increased their target price on Chefs’ Warehouse from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.29.

Chefs’ Warehouse Stock Up 2.3%

Shares of NASDAQ:CHEF opened at $59.62 on Tuesday. The company’s fifty day moving average is $61.25 and its 200-day moving average is $61.17. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 2.01. Chefs’ Warehouse has a 52 week low of $38.65 and a 52 week high of $68.94. The company has a market capitalization of $2.43 billion, a PE ratio of 37.26 and a beta of 1.75.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its 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 analysts’ expectations of $1.01 billion. Chefs’ Warehouse had a net margin of 1.76% and a return on equity of 13.60%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS. Chefs’ Warehouse has set its FY 2025 guidance at EPS. Equities research analysts predict that Chefs’ Warehouse will post 1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chefs’ Warehouse

Several large investors have recently made changes to their positions in CHEF. CWM LLC increased its position in Chefs’ Warehouse by 50.6% in the first quarter. CWM LLC now owns 542 shares of the company’s stock worth $30,000 after purchasing an additional 182 shares during the period. Center for Financial Planning Inc. bought a new position in shares of Chefs’ Warehouse in the 2nd quarter valued at about $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Chefs’ Warehouse during the 1st quarter worth approximately $37,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Chefs’ Warehouse during the first quarter worth approximately $46,000. Finally, Osaic Holdings Inc. lifted its holdings in 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 buying an additional 188 shares during the period. Institutional investors and hedge funds own 91.55% of the company’s stock.

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.