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Chefs' Warehouse (CHEF) Soars 5.4%: Is Further Upside Left in the Stock?
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Chefs' Warehouse (CHEF - Free Report) shares soared 5.4% in the last trading session to close at $38.48. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.5% gain over the past four weeks.
Chefs' Warehouse has been benefiting from robust customer demand and the company’s ability to offer products efficiently. The company recently raised its guidance for full-year 2022, on the basis of the present business trends and view for the rest of the year. Management now anticipates net sales to be $2.325-$2.425 billion; gross profit of $542.0-$565.0 million and adjusted EBITDA in the band of $130.0-$140.0 million.
This distributor of specialty food products is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +775%. Revenues are expected to be $600.18 million, up 41.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Chefs' Warehouse, the consensus EPS estimate for the quarter has been revised 78.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CHEF going forward to see if this recent jump can turn into more strength down the road.
Chefs' Warehouse is part of the Zacks Food - Miscellaneous industry. Medifast (MED - Free Report) , another stock in the same industry, closed the last trading session 2% higher at $171.83. MED has returned -4.1% in the past month.
Medifast's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.28. Compared to the company's year-ago EPS, this represents a change of -17.2%. Medifast currently boasts a Zacks Rank of #2 (Buy).
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Chefs' Warehouse (CHEF) Soars 5.4%: Is Further Upside Left in the Stock?
Chefs' Warehouse (CHEF - Free Report) shares soared 5.4% in the last trading session to close at $38.48. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.5% gain over the past four weeks.
Chefs' Warehouse has been benefiting from robust customer demand and the company’s ability to offer products efficiently. The company recently raised its guidance for full-year 2022, on the basis of the present business trends and view for the rest of the year. Management now anticipates net sales to be $2.325-$2.425 billion; gross profit of $542.0-$565.0 million and adjusted EBITDA in the band of $130.0-$140.0 million.
This distributor of specialty food products is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +775%. Revenues are expected to be $600.18 million, up 41.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Chefs' Warehouse, the consensus EPS estimate for the quarter has been revised 78.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CHEF going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Chefs' Warehouse is part of the Zacks Food - Miscellaneous industry. Medifast (MED - Free Report) , another stock in the same industry, closed the last trading session 2% higher at $171.83. MED has returned -4.1% in the past month.
Medifast's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.28. Compared to the company's year-ago EPS, this represents a change of -17.2%. Medifast currently boasts a Zacks Rank of #2 (Buy).