Chefs’ Warehouse (NASDAQ:CHEF) Stock Price Up 5.8%

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.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.04). Chefs’ Warehouse had a negative net margin of 1.37% and a negative return on equity of 5.13%. The company had revenue of $200.50 million for the quarter, compared to analysts’ expectations of $213.72 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was down 51.3% on a year-over-year basis. As a group, equities research analysts predict that Chefs’ Warehouse Inc will post -1.53 EPS for the current fiscal year.

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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