UBS analysts initates a Buy rating for Chefs’ Warehouse Inc (CHEF)

Chefs’ Warehouse Inc’s filing revealed that its Chief Accounting Officer McCauley Tim unloaded Company’s shares for reported $0.18 million on Dec 27 ’23. In the deal valued at $30.04 per share,6,000 shares were sold. As a result of this transaction, McCauley Tim now holds 57,242 shares worth roughly $2.12 million.

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Then, McCauley Tim sold 6,000 shares, generating $151,380 in total proceeds. Upon selling the shares at $25.23, the Chief Accounting Officer now owns 63,242 shares.

Before that, OLIVER KATHERINE bought 855 shares. Chefs’ Warehouse Inc shares valued at $20,110 were divested by the Director at a price of $23.52 per share. As a result of the transaction, OLIVER KATHERINE now holds 37,437 shares, worth roughly $1.38 million.

UBS initiated its Chefs’ Warehouse Inc [CHEF] rating to a Buy in a research note published on September 25, 2023; the price target was $37. A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in late December from “a Hold” to “a Buy”. The Benchmark Company began covering CHEF with “Buy” recommendation on December 17, 2021. Wolfe Research started covering the stock on September 30, 2021. It rated CHEF as “an Outperform”.

Price Performance Review of CHEF

On Tuesday, Chefs’ Warehouse Inc [NASDAQ:CHEF] saw its stock jump 1.12% to $36.99. Over the last five days, the stock has lost -3.65%. Chefs’ Warehouse Inc shares have risen nearly 25.69% since the year began. Nevertheless, the stocks have risen 18.22% over the past one year. While a 52-week high of $39.00 was reached on 03/05/24, a 52-week low of $17.29 was recorded on 01/16/24. SMA at 50 days reached $33.45, while 200 days put it at $29.55. A total of 0.35 million shares were traded, compared to the trading of 0.41 million shares in the previous session.

Levels Of Support And Resistance For CHEF Stock

The 24-hour chart illustrates a support level at 36.27, which if violated will result in even more drops to 35.56. On the upside, there is a resistance level at 37.47. A further resistance level may holdings at 37.96. The Relative Strength Index (RSI) on the 14-day chart is 57.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 67.91%. Stochastics %K at 36.79% indicates the stock is a holding.

How much short interest is there in Chefs’ Warehouse Inc?

A steep rise in short interest was recorded in Chefs’ Warehouse Inc stocks on Feb 29, 2024, growing by 0.26 million shares to a total of 3.65 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 3.39 million shares. There was a rise of 7.12%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.38% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.91.

The most recent change occurred on April 05, 2021 when Lake Street began covering the stock and recommended ‘”a Buy”‘ rating along with a $38 price target.

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