Daily Stock Market News

Chefs’ Warehouse (NASDAQ:CHEF) Trading 8.7% Higher on Analyst Upgrade


The Chefs’ Warehouse, Inc. (NASDAQ:CHEFGet Rating)’s stock price was up 8.7% on Friday after Benchmark raised their price target on the stock from $44.00 to $47.00. Benchmark currently has a buy rating on the stock. Chefs’ Warehouse traded as high as $38.32 and last traded at $38.29. Approximately 11,206 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 199,270 shares. The stock had previously closed at $35.24.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com assumed coverage on shares of Chefs’ Warehouse in a research report on Thursday, March 31st. They set a “hold” rating on the stock. CL King raised their target price on shares of Chefs’ Warehouse from $34.00 to $38.00 in a report on Thursday, April 14th. BMO Capital Markets raised their target price on shares of Chefs’ Warehouse from $40.00 to $44.00 in a report on Thursday, April 28th. Finally, Lake Street Capital lifted their price objective on shares of Chefs’ Warehouse from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

(Ad)

In deepest Siberia, Russian oligarchs are pouring $15 billion into two long-dormant copper mines with close access to the lucrative China market. Copper is essential to the West’s plans to transition to green energy and Russia has the third-largest reserves in the world. Is Putin making a move to corner the copper market? New sources of copper – outside Russia – are desperately needed for the West to win its war for energy independence.

In other news, CFO James Leddy sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $39.00, for a total transaction of $39,000.00. Following the sale, the chief financial officer now owns 126,965 shares in the company, valued at $4,951,635. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors raised its stake in shares of Chefs’ Warehouse by 49.7% during the 1st quarter. Captrust Financial Advisors now owns 2,252 shares of the company’s stock worth $73,000 after buying an additional 748 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Chefs’ Warehouse during the 4th quarter worth approximately $86,000. Nisa Investment Advisors LLC raised its stake in shares of Chefs’ Warehouse by 20.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,330 shares of the company’s stock worth $99,000 after buying an additional 570 shares during the period. KBC Group NV raised its stake in shares of Chefs’ Warehouse by 25.2% during the 1st quarter. KBC Group NV now owns 3,729 shares of the company’s stock worth $122,000 after buying an additional 751 shares during the period. Finally, Stephens Inc. AR acquired a new position in Chefs’ Warehouse in the 1st quarter valued at $160,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

The company has a 50 day moving average of $35.13 and a 200 day moving average of $32.88. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.47 and a current ratio of 2.26. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 100.84 and a beta of 2.01.

Chefs’ Warehouse (NASDAQ:CHEFGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. Chefs’ Warehouse had a return on equity of 5.75% and a net margin of 0.73%. The business had revenue of $512.10 million during the quarter, compared to analysts’ expectations of $480.92 million. During the same period in the prior year, the business posted ($0.50) EPS. The company’s revenue was up 82.8% compared to the same quarter last year. On average, equities analysts predict that The Chefs’ Warehouse, Inc. will post 0.78 EPS for the current fiscal year.

About Chefs’ Warehouse (NASDAQ:CHEF)

The Chefs’ Warehouse, Inc, together with its subsidiaries, engages in distribution of specialty food products in the United States and Canada. The company’s product portfolio includes approximately 50,000 stock-keeping units, such as specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.

Recommended Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Chefs’ Warehouse right now?

Before you consider Chefs’ Warehouse, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Chefs’ Warehouse wasn’t on the list.

While Chefs’ Warehouse currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here



Read More: Chefs’ Warehouse (NASDAQ:CHEF) Trading 8.7% Higher on Analyst Upgrade

You might also like