BidaskClub Downgrades Chefs' Warehouse (CHEF) to Sell

BidaskClub lowered shares of Chefs' Warehouse (NASDAQ:CHEF) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

Several other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Chefs' Warehouse from a hold rating to a sell rating in a research report on Tuesday, January 9th. Canaccord Genuity reiterated a buy rating and set a $24.00 price target on shares of Chefs' Warehouse in a research report on Monday, January 8th. BMO Capital Markets upgraded shares of Chefs' Warehouse from a market perform rating to an outperform rating in a research report on Monday, November 13th. Jefferies Group reiterated a buy rating and set a $23.00 price target on shares of Chefs' Warehouse in a research report on Friday, November 10th. Finally, Loop Capital upped their price target on shares of Chefs' Warehouse from $21.00 to $22.00 and gave the stock a buy rating in a research report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $20.00.

Shares of Chefs' Warehouse (NASDAQ CHEF) opened at $19.75 on Wednesday. Chefs' Warehouse has a 52 week low of $11.85 and a 52 week high of $21.90. The company has a quick ratio of 1.31, a current ratio of 2.26 and a debt-to-equity ratio of 1.54. The company has a market cap of $546.47, a price-to-earnings ratio of 37.26, a PEG ratio of 1.50 and a beta of 1.02.

Chefs' Warehouse (NASDAQ:CHEF) last issued its earnings results on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.01. Chefs' Warehouse had a net margin of 1.09% and a return on equity of 5.08%. The company had revenue of $325.08 million for the quarter, compared to the consensus estimate of $322.78 million. During the same quarter in the previous year, the company earned $0.07 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. sell-side analysts expect that Chefs' Warehouse will post 0.41 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of CHEF. Schwab Charles Investment Management Inc. lifted its position in Chefs' Warehouse by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 69,210 shares of the company’s stock worth $900,000 after buying an additional 456 shares in the last quarter. Rhumbline Advisers raised its holdings in Chefs' Warehouse by 8.2% during the 2nd quarter. Rhumbline Advisers now owns 21,000 shares of the company’s stock worth $273,000 after purchasing an additional 1,595 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Chefs' Warehouse by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,628 shares of the company’s stock worth $931,000 after purchasing an additional 554 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Chefs' Warehouse by 1.7% during the 2nd quarter. Wells Fargo & Company MN now owns 455,020 shares of the company’s stock worth $5,915,000 after purchasing an additional 7,412 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in Chefs' Warehouse by 19.1% during the 2nd quarter. Teachers Advisors LLC now owns 53,704 shares of the company’s stock worth $698,000 after purchasing an additional 8,624 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

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About Chefs' Warehouse

The Chefs’ Warehouse, Inc is a distributor of specialty food products in the United States and Canada. The Company operates through food product distribution segment, which is concentrated on the East and West Coasts of the United States. The Company is focused on serving the specific needs of chefs owning and/or operating some of the menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores in the United States and Canada.

Analyst Recommendations for Chefs' Warehouse (NASDAQ:CHEF)

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