#5 - The Chef’s Warehouse (NASDAQ:CHEF)
The restaurant industry was one of the hardest-hit sectors during the pandemic. However, many of the traditional restaurant stocks have already bounced back to pre-pandemic levels. That makes me a little hesitant to call them “bellwether” stocks.
That’s why I’m looking at The Chef’s Warehouse (NASDAQ:CHEF). The company supplies restaurants with the equipment and ingredients they need to thrive. But it’s not just restaurants. The company supplies its products to menu-driven companies such as country clubs, hotels, and caterers. These were businesses that were largely dormant as gatherings were limited.
As these businesses continue to reopen with increasing capacity, I would look at CHEF stock to show growth. Granted, it’s up 238% in the last 12 months.
But that growth has slowed in the last month. That recent dip may be just what the stock needed. It was beginning to look very overvalued. The recent selloff is giving investors a more attractive price point. And the stock is still about 30% below its all-time high.
About Chefs' Warehouse
The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company's product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.
Read More - Current Price
- $48.34
- Consensus Rating
- Buy
- Ratings Breakdown
- 5 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $53.40 (10.5% Upside)
