In a report released yesterday, Peter Saleh from BTIG reiterated a Buy rating on The Chefs’ Warehouse (CHEF – Research Report), with a price target of $42.00. The company’s shares closed last Wednesday at $34.96.
According to TipRanks.com, Saleh is a 5-star analyst with an average return of 18.7% and a 69.7% success rate. Saleh covers the Services sector, focusing on stocks such as Papa John’s International, BurgerFi International, and Texas Roadhouse.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for The Chefs’ Warehouse with a $39.25 average price target, a 22.6% upside from current levels. In a report issued on January 28, Lake Street also maintained a Buy rating on the stock with a $40.00 price target.
Based on The Chefs’ Warehouse’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $484 million and net profit of $3.46 million. In comparison, last year the company earned revenue of $254 million and had a GAAP net loss of $11.43 million.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CHEF in relation to earlier this year.
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The Chefs’ Warehouse, Inc. engages in the distribution of specialty food products. It focuses on serving the specific needs of chefs who own and operate 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. Its product portfolio includes artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate and pastry products. The firm oprates through East Coast, Midwest and West Coast segments. It also offer a line of center-of-the-plate products, including custom cut beef, seafood and hormone-free poultry, as well as broad line food products, such as cooking oils, butter, eggs, milk and flour. The company was founded by Christopher Pappas, John Pappas, and Dean Facatselis in 1985 and is headquartered in Ridgefield, CT.
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