UpTickMeA$AP
4 years ago
BTIG analyst Peter Saleh maintained a Buy rating on The Chefs’ Warehouse (CHEF) yesterday and set a price target of $40.00. The company’s shares closed last Wednesday at $32.69, close to its 52-week high of $35.57.
According to TipRanks.com, Saleh is a 5-star analyst with an average return of 26.0% and a 78.9% success rate. Saleh covers the Services sector, focusing on stocks such as Texas Roadhouse, Kura Sushi USA, and Drive Shack.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for The Chefs’ Warehouse with a $39.00 average price target.
https://www.smarteranalyst.com/new-blurbs/btig-believes-the-chefs-warehouse-chef-wont-stop-here/
UpTickMeA$AP
4 years ago
The Chefs' Warehouse, Inc. (NASDAQ:CHEF), a premier distributor of specialty food products in North America, today announced that it has acquired substantially all of the assets of M.F. Foley Company Inc., based in New Bedford, Massachusetts. For over 100 years, and four generations, Foley Fish has been a staple purveyor of the finest seafood products to restaurants across the country.
“We are thrilled to welcome Foley Fish into the Chefs’ Warehouse family of companies,” said Christopher Pappas, Chairman and Chief Executive Officer of The Chefs' Warehouse, Inc. “Foley’s uncompromising dedication to quality aligns perfectly with our focus of supplying the world’s best ingredients to North America’s top chefs and will become a centerpiece of our strategy to grow the seafood category nationally.”
Since inception in 1985, The Chefs’ Warehouse has been purveying high-quality, luxury, artisan, local and specialty products for the nation’s top restaurants. Founded in New York, the Northeast is the Company’s largest market in North America.
“We couldn’t hope for a better home for our valued employees, customers and vendors that have supported us over so many years,” said Laura Foley Ramsden, fourth generation owner of Foley Fish. “The Chefs’ Warehouse focus on quality and service will preserve the essence of what makes Foley an exceptional company, while leveraging technology and infrastructure to ensure our continued growth.”
https://ih.advfn.com/stock-market/NASDAQ/chefs-warehouse-CHEF/stock-news/84911814/the-chefs-warehouse-acquires-foley-fish
UpTickMeA$AP
4 years ago
Debt to asset, and liquidity still looking ok here, even after a year of China flu.
When life opens fully in a couple months... This could really run hard, even from $35-$40.
Market is about to see unheard of injection of capital. This, on top of healthy numbers that shrugged China flu, and this could get pretty crazy!
The market will most likely spike incredibly hard to the upside, and bring new highs all over.
2021 will be the ying to 2020s yang!
Smart money is getting in hard NOW before the checks fly, and buy and hold money floods the market.
Small float will make this explosive!
Could see spikes to $70+ here.
Supply chain is everything, as 2020 proved the importance.
Food. Housing.
UpTickMeA$AP
4 years ago
Looks like the business meal tax break is included in the new stimulus deal, and will last two years. This is a huge incentive that will help restaurants greatly.
Totaling tax breaks — The legislation allows businesses to deduct expenses associated with their forgiven PPP loans, in addition to expanding the employee retention credit intended to prevent layoffs. It includes a two-year tax break for business meals — a priority for President Donald Trump — and rolls over a variety of temporary tax breaks known as “extenders,” some for multiple years. The package also extends a payroll tax subsidy for employers offering workers paid sick leave and boosts the Earned Income Tax Credit.
https://www.politico.com/news/2020/12/20/details-stimulus-package-omnibus-bill-449499
Trump talks deductibility at 2:25. I THINK that's what is what they are talking in the new stimulus.
Vaccines rolling out, incentives to super charge restaurants traffic, a couple months to get things open, and numbers should start getting back to normal and better.
Strong liquidity held through the pandemic shows this company could really do some growing in the future.
Looking very good!