Zacks Investment Research Downgrades The Chefs’ Warehouse, Inc. (CHEF) to Sell

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

According to Zacks, “Chefs’ Warehouse Holdings, LLC is a distributor of specialty food products in the United States. The Company is focused on serving the specific needs of chefs who own and/or operate restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools and specialty food stores. Its product portfolio includes artisan charcuterie, specialty cheeses, unique oils and vinegars, hormone-free protein, truffles, caviar, and chocolate. It also offers cooking oils, butter, eggs, milk, and flour. Chefs’ Warehouse Holdings, LLC is based in Ridgefield, Connecticut. “

Other equities analysts have also recently issued reports about the company. BidaskClub raised The Chefs’ Warehouse from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Canaccord Genuity reaffirmed a “buy” rating and set a $19.00 price objective (up from $18.00) on shares of The Chefs’ Warehouse in a report on Friday, August 11th. BMO Capital Markets reissued a “market perform” rating and set a $18.00 price target (up previously from $16.00) on shares of The Chefs’ Warehouse in a research report on Thursday, August 10th. ValuEngine raised The Chefs’ Warehouse from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $23.00 price target on shares of The Chefs’ Warehouse in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $19.67.

The Chefs’ Warehouse (CHEF) opened at $17.55 on Monday. The stock has a market capitalization of $494.09, a price-to-earnings ratio of 48.95, a P/E/G ratio of 2.36 and a beta of 1.09. The Chefs’ Warehouse has a 1-year low of $11.85 and a 1-year high of $21.90. The company has a current ratio of 2.26, a quick ratio of 1.31 and a debt-to-equity ratio of 1.54.

The Chefs’ Warehouse (NASDAQ:CHEF) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $325.08 million during the quarter, compared to analysts’ expectations of $322.78 million. The Chefs’ Warehouse had a return on equity of 5.08% and a net margin of 1.09%. The Chefs’ Warehouse’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. analysts predict that The Chefs’ Warehouse will post 0.41 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in CHEF. Schwab Charles Investment Management Inc. grew its position in shares of The Chefs’ Warehouse by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 69,210 shares of the company’s stock valued at $900,000 after purchasing an additional 456 shares during the period. Bank of New York Mellon Corp grew its position in shares of The Chefs’ Warehouse by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 71,628 shares of the company’s stock valued at $931,000 after purchasing an additional 554 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of The Chefs’ Warehouse by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 16,943 shares of the company’s stock valued at $221,000 after purchasing an additional 555 shares during the period. Nationwide Fund Advisors grew its position in shares of The Chefs’ Warehouse by 4.5% in the second quarter. Nationwide Fund Advisors now owns 15,118 shares of the company’s stock valued at $197,000 after purchasing an additional 650 shares during the period. Finally, American International Group Inc. grew its position in shares of The Chefs’ Warehouse by 7.1% in the first quarter. American International Group Inc. now owns 11,917 shares of the company’s stock valued at $166,000 after purchasing an additional 791 shares during the period. 80.56% of the stock is owned by institutional investors.

About The 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 The Chefs` Warehouse (NASDAQ:CHEF)

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