Chefs’ Warehouse Inc (NASDAQ:CHEF)’s stock price rose 5.8% on Thursday . The company traded as high as $15.62 and last traded at $15.39. Approximately 895,404 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 1,080,129 shares. The stock had previously closed at $14.54.
CHEF has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Chefs’ Warehouse from a “hold” rating to a “sell” rating in a report on Monday, July 27th. National Securities reiterated a “buy” rating and issued a $30.00 target price on shares of Chefs’ Warehouse in a report on Wednesday, July 29th. TheStreet downgraded shares of Chefs’ Warehouse from a “c-” rating to a “d” rating in a report on Thursday, July 30th. Piper Sandler downgraded shares of Chefs’ Warehouse from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $13.00 in a report on Wednesday, July 29th. Finally, BidaskClub upgraded shares of Chefs’ Warehouse from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $22.88.
The stock’s fifty day moving average price is $15.50 and its 200-day moving average price is $13.64. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.54 and a quick ratio of 2.75. The firm has a market cap of $581.71 million, a price-to-earnings ratio of -28.50 and a beta of 2.01.
Institutional investors and hedge funds have recently made changes to their positions in the stock. WASHINGTON TRUST Co purchased a new position in Chefs’ Warehouse during the second quarter valued at approximately $42,000. Paradigm Asset Management Co. LLC purchased a new position in Chefs’ Warehouse during the second quarter valued at approximately $48,000. Point72 Asset Management L.P. purchased a new position in Chefs’ Warehouse during the second quarter valued at approximately $60,000. BNP Paribas Arbitrage SA grew its position in Chefs’ Warehouse by 46.2% during the first quarter. BNP Paribas Arbitrage SA now owns 9,826 shares of the company’s stock valued at $99,000 after purchasing an additional 3,104 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in Chefs’ Warehouse in the second quarter worth approximately $122,000. 77.58% of the stock is currently owned by hedge funds and other institutional investors.
About Chefs’ Warehouse (NASDAQ:CHEF)
The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food products in the United States and Canada. Its product portfolio includes approximately 55,000 stock-keeping units comprising specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.
See Also: Return on Equity (ROE)
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