National Securities Corp Sticks to Its Buy Rating for The Chefs’ Warehouse (CHEF)

By Jason Carr

National Securities Corp analyst Ben Klieve maintained a Buy rating on The Chefs’ Warehouse (CHEFResearch Report) today and set a price target of $30.00. The company’s shares closed last Wednesday at $12.60.

Klieve has an average return of 40.3% when recommending The Chefs’ Warehouse.

According to TipRanks.com, Klieve is ranked #2438 out of 6817 analysts.

The Chefs’ Warehouse has an analyst consensus of Moderate Buy, with a price target consensus of $22.50.

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Based on The Chefs’ Warehouse’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $375 million and GAAP net loss of $14.09 million. In comparison, last year the company earned revenue of $357 million and had a net profit of $1.13 million.

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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.