The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) from a hold rating to a sell rating in a research note published on Wednesday, July 19th.

CHEF has been the topic of a number of other research reports. Canaccord Genuity began coverage on The Chefs’ Warehouse in a research note on Friday, April 7th. They issued a buy rating and a $18.00 target price on the stock. Zacks Investment Research upgraded The Chefs’ Warehouse from a sell rating to a hold rating in a research note on Thursday, April 6th. Loop Capital began coverage on The Chefs’ Warehouse in a research note on Monday, May 15th. They issued a buy rating and a $18.00 target price on the stock. Jefferies Group LLC restated a buy rating and issued a $19.00 target price on shares of The Chefs’ Warehouse in a research note on Thursday, June 1st. Finally, BidaskClub upgraded The Chefs’ Warehouse from a strong sell rating to a sell rating in a research note on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $16.29.

The Chefs’ Warehouse (NASDAQ:CHEF) remained flat at $14.50 during trading on Wednesday. 83,405 shares of the stock traded hands. The firm’s 50-day moving average price is $13.73 and its 200 day moving average price is $14.56. The stock has a market cap of $382.09 million, a P/E ratio of 966.67 and a beta of 1.10. The Chefs’ Warehouse has a 52-week low of $10.31 and a 52-week high of $17.15.

The Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings results on Tuesday, May 9th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $287.70 million for the quarter, compared to analyst estimates of $284.45 million. The Chefs’ Warehouse had a return on equity of 4.75% and a net margin of 0.03%. The Chefs’ Warehouse’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share. Equities research analysts expect that The Chefs’ Warehouse will post $0.38 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in CHEF. Bank of Montreal Can increased its stake in The Chefs’ Warehouse by 4,428.6% in the second quarter. Bank of Montreal Can now owns 12,046 shares of the company’s stock valued at $157,000 after buying an additional 11,780 shares during the period. American International Group Inc. increased its stake in 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 buying an additional 791 shares during the period. Nationwide Fund Advisors increased its stake in The Chefs’ Warehouse by 6.7% in the first quarter. Nationwide Fund Advisors now owns 14,468 shares of the company’s stock valued at $201,000 after buying an additional 906 shares during the period. Trexquant Investment LP increased its stake in The Chefs’ Warehouse by 45.4% in the first quarter. Trexquant Investment LP now owns 18,469 shares of the company’s stock valued at $257,000 after buying an additional 5,769 shares during the period. Finally, OppenheimerFunds Inc. bought a new stake in The Chefs’ Warehouse during the first quarter valued at about $288,000. Institutional investors own 76.44% of the company’s stock.

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.

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