Cheesecake Factory (NASDAQ:CAKE) PT Raised to $51.00

Cheesecake Factory (NASDAQ:CAKE) had its price objective increased by Citigroup from $46.00 to $51.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Citigroup’s target price would indicate a potential upside of 19.72% from the company’s previous close.

A number of other research analysts have also issued reports on CAKE. Stephens restated an “overweight” rating and set a $50.00 price target on shares of Cheesecake Factory in a research note on Thursday, August 1st. JPMorgan Chase & Co. decreased their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Company raised 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. Robert W. Baird raised their price objective on shares of Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Barclays raised their price objective on shares of Cheesecake Factory from $32.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.42.

Cheesecake Factory Stock Up 5.1 %

Shares of NASDAQ CAKE traded up $2.07 during trading hours on Friday, hitting $42.60. 1,004,862 shares of the stock were exchanged, compared to its average volume of 929,531. The company has a quick ratio of 0.32, a current ratio of 0.43 and a debt-to-equity ratio of 1.26. The company has a market cap of $2.17 billion, a PE ratio of 19.46, a PEG ratio of 1.14 and a beta of 1.49. The firm has a fifty day moving average price of $38.18 and a 200-day moving average price of $37.51. Cheesecake Factory has a 12 month low of $28.63 and a 12 month high of $42.82.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $909.19 million. During the same quarter in the prior year, the business posted $0.88 EPS. Cheesecake Factory’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts expect that Cheesecake Factory will post 3.21 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted 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 valued at $25,000 after purchasing an additional 661 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in Cheesecake Factory during the 4th quarter worth approximately $26,000. GAMMA Investing LLC grew its holdings in Cheesecake Factory by 276.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after acquiring an additional 1,064 shares in the last quarter. nVerses Capital LLC acquired a new position in Cheesecake Factory during the 2nd quarter worth approximately $67,000. Finally, SG Americas Securities LLC acquired a new position in Cheesecake Factory during the 1st quarter worth approximately $121,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Company Profile

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.