Today’s big question for investors is, “what’s going on with The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) stock? Its price is jumping 1.64 points, trading at $13.2 levels, and is up 14.19% from its previous close of $11.56. The shares seem to have an active trading volume day with a reported 1370204 contracts so far this session. CHEF shares had a relatively better volume day versus average trading capacity of 695.25 thousand shares, but with a 22.49 million float and a 221.11% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CHEF stock indicates that the average analyst price target is $41.4 per share. This means the stock has a potential increase of 213.64% from where the CHEF share price has been trading recently.
Looking at the current readings for The Chefs’ Warehouse, Inc., the two-week RSI stands at 37.55. This figure suggests that CHEF stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CHEF readings is similarly very revealing as it has a stochastic reading of 34.34% at this stage. This figure means that CHEF share price today is being neutral.
Technical chart claims that The Chefs’ Warehouse, Inc. (CHEF) would settle between $13.13/share to $14.71/share level. However, if the stock price goes below the $9.69 mark, then the market for The Chefs’ Warehouse, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $7.83 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 3.4. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at National Securities, assumed coverage of CHEF assigning Buy rating, according to their opinion released on February 27. Piper Jaffray, analysts launched coverage of The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) stock with a Overweight recommendation, according to their flash note issued to investors on December 12. Analysts at CL King, made their first call for the equity with a Buy recommendation, according to a research note that dated back to November 11.
CHEF equity has an average rating of 2.25, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CHEF stock price is currently trading at 10X forward 12-month Consensus EPS estimates, and its P/E ratio is 14.3 while for the average stock in the same group, the multiple is 15.6. The Chefs’ Warehouse, Inc. current P/B ratio of 1 means it is trading at a discount against its industry’s 2.9.
The Chefs’ Warehouse, Inc. (CHEF)’s current-quarter revenues are projected to climb by nearly 12.2% to hit $400650, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 16.2% from $1.59 billion to a noteworthy $1.85 billion. At the other end of the current quarter income statement, The Chefs’ Warehouse, Inc. is expected to see its adjusted earnings surge by roughly -160% to hit $-0.03 per share. For the fiscal year, CHEF’s earnings are projected to climb by roughly -18.8% to hit $0.82 per share.