Chefs’ Warehouse (NASDAQ:CHEF) Price Target Raised to $55.00

Chefs’ Warehouse (NASDAQ:CHEF) had its price objective raised by equities research analysts at BMO Capital Markets from $50.00 to $55.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 39.31% from the company’s current price.

Separately, Jefferies Financial Group increased their price objective on Chefs’ Warehouse from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Chefs’ Warehouse currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Chefs’ Warehouse Stock Performance

NASDAQ:CHEF opened at $39.48 on Thursday. The firm has a market capitalization of $1.57 billion, a PE ratio of 45.13 and a beta of 2.32. Chefs’ Warehouse has a 1 year low of $17.98 and a 1 year high of $44.58. The company has a current ratio of 1.85, a quick ratio of 1.08 and a debt-to-equity ratio of 1.43. The firm’s fifty day simple moving average is $40.70 and its 200 day simple moving average is $39.22.

Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Chefs’ Warehouse had a return on equity of 12.62% and a net margin of 1.11%. The company had revenue of $931.45 million for the quarter, compared to the consensus estimate of $934.29 million. On average, sell-side analysts anticipate that Chefs’ Warehouse will post 1.43 EPS for the current year.

Hedge Funds Weigh In On Chefs’ Warehouse

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHEF. Advisors Preferred LLC acquired a new stake in shares of Chefs’ Warehouse during the 1st quarter worth approximately $4,071,000. Lazard Asset Management LLC boosted its stake in Chefs’ Warehouse by 86.9% during the first quarter. Lazard Asset Management LLC now owns 159,061 shares of the company’s stock worth $5,990,000 after buying an additional 73,964 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Chefs’ Warehouse by 333.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 94,264 shares of the company’s stock valued at $3,687,000 after buying an additional 72,540 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of Chefs’ Warehouse by 584.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 49,437 shares of the company’s stock valued at $1,933,000 after buying an additional 59,637 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Chefs’ Warehouse by 11.8% during the 2nd quarter. Victory Capital Management Inc. now owns 496,345 shares of the company’s stock worth $19,412,000 after acquiring an additional 52,246 shares during the period. 91.55% of the stock is currently owned by institutional investors.

Chefs’ Warehouse Company Profile

The Chefs’ Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company’s product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.