Cheesecake Factory (NASDAQ:CAKE) Stock Rating Reaffirmed by Wedbush

Cheesecake Factory (NASDAQ:CAKE)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a research report issued on Tuesday, Benzinga reports. They presently have a $45.00 price target on the restaurant operator’s stock. Wedbush’s price target would suggest a potential upside of 8.41% from the stock’s previous close.

CAKE has been the topic of several other research reports. Barclays increased their target price on Cheesecake Factory from $32.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Citigroup raised their price objective on Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Stephens reiterated an “overweight” rating and issued a $50.00 target price on shares of Cheesecake Factory in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Cheesecake Factory from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Cheesecake Factory presently has an average rating of “Hold” and an average target price of $42.18.

Cheesecake Factory Stock Performance

CAKE stock opened at $41.51 on Tuesday. Cheesecake Factory has a 1-year low of $29.27 and a 1-year high of $43.51. The business has a 50-day moving average price of $39.36 and a 200 day moving average price of $38.02. The company has a market capitalization of $2.12 billion, a P/E ratio of 19.04, a PEG ratio of 1.13 and a beta of 1.49. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.43 and a quick ratio of 0.32.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The business had revenue of $904.04 million during the quarter, compared to analyst estimates of $909.19 million. During the same quarter in the previous year, the business posted $0.88 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that Cheesecake Factory will post 3.21 EPS for the current fiscal year.

Institutional Trading of Cheesecake Factory

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAKE. Allspring Global Investments Holdings LLC raised its stake in shares of Cheesecake Factory by 2,360.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 661 shares during the last quarter. New Century Financial Group LLC acquired a new stake in Cheesecake Factory during the first quarter worth about $1,108,000. Texas Permanent School Fund Corp raised its position in Cheesecake Factory by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 40,881 shares of the restaurant operator’s stock valued at $1,478,000 after acquiring an additional 547 shares in the last quarter. Duality Advisers LP acquired a new position in Cheesecake Factory in the first quarter valued at approximately $1,829,000. Finally, Sciencast Management LP purchased a new stake in Cheesecake Factory in the 1st quarter worth approximately $400,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

About Cheesecake Factory

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.