Trading Report: Today, The Chefs’ Warehouse Inc. (CHEF) Given Average Rating of “Hold” by Analysts

Today, The Chefs’ Warehouse Inc. (CHEF) Given Average Rating of “Hold” by Analysts

Shares of The Chefs’ Warehouse Inc. (NASDAQ:CHEF) have been given an average rating of “Hold” by the seven research firms that are covering the company. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $13.67.

CHEF has been the subject of a number of recent research reports. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $15.00 target price on shares of The Chefs’ Warehouse in a report on Wednesday, August 3rd. Zacks Investment Research cut The Chefs’ Warehouse from a “buy” rating to a “sell” rating in a report on Friday, August 5th. Barclays PLC initiated coverage on The Chefs’ Warehouse in a report on Friday, September 23rd. They issued an “equal weight” rating and a $12.00 target price for the company. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $14.00 target price (down previously from $15.00) on shares of The Chefs’ Warehouse in a report on Friday, September 30th.

Large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company acquired a new stake in shares of The Chefs’ Warehouse during the third quarter valued at approximately $161,000. Formula Growth Ltd. acquired a new stake in shares of The Chefs’ Warehouse during the third quarter valued at approximately $2,945,000. Rutabaga Capital Management LLC MA acquired a new stake in shares of The Chefs’ Warehouse during the third quarter valued at approximately $8,005,000. Northern Trust Corp raised its stake in shares of The Chefs’ Warehouse by 1.4% in the third quarter. Northern Trust Corp now owns 220,825 shares of the company’s stock valued at $2,460,000 after buying an additional 3,057 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of The Chefs’ Warehouse by 9.3% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,999,839 shares of the company’s stock valued at $44,558,000 after buying an additional 341,587 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Shares of The Chefs’ Warehouse (NASDAQ:CHEF) traded down 1.88% during trading on Friday, reaching $13.05. The company’s stock had a trading volume of 48,613 shares. The firm has a market cap of $342.61 million, a PE ratio of 621.43 and a beta of 1.32. The Chefs’ Warehouse has a 12 month low of $10.31 and a 12 month high of $20.79. The company’s 50 day moving average price is $12.20 and its 200 day moving average price is $13.48.

The Chefs’ Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, November 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by $0.01. The Chefs’ Warehouse had a return on equity of 7.47% and a net margin of 0.05%. The firm earned $297.90 million during the quarter, compared to analyst estimates of $299.70 million. During the same period in the previous year, the company earned $0.21 EPS. The Chefs’ Warehouse’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts predict that The Chefs’ Warehouse will post $0.43 earnings per share for the current year.

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