Cheesecake Factory (NASDAQ:CAKE) Given New $49.00 Price Target at Bank of America

Cheesecake Factory (NASDAQ:CAKE) had its price objective hoisted by stock analysts at Bank of America from $47.00 to $49.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Bank of America‘s target price would indicate a potential upside of 6.01% from the stock’s current price.

A number of other equities analysts have also recently issued reports on CAKE. Robert W. Baird lifted their target price on shares of Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays lifted their target price on shares of Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a research report on Wednesday. Citigroup lifted their target price on shares of Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. cut their price objective 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, UBS Group boosted their price objective on shares of Cheesecake Factory from $32.00 to $36.00 and gave the company a “sell” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Cheesecake Factory has a consensus rating of “Hold” and a consensus target price of $44.17.

Cheesecake Factory Stock Down 0.9 %

CAKE stock opened at $46.22 on Wednesday. The company has a market cap of $2.36 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.13 and a beta of 1.49. Cheesecake Factory has a 52 week low of $29.27 and a 52 week high of $49.75. The company’s 50-day moving average price is $40.17 and its 200 day moving average price is $38.41. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $865.50 million during the quarter, compared to analysts’ expectations of $866.13 million. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. On average, research analysts expect that Cheesecake Factory will post 3.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cheesecake Factory

A number of large investors have recently bought and sold shares of the stock. Duality Advisers LP acquired a new stake in shares of Cheesecake Factory in the first quarter worth $1,829,000. Dimensional Fund Advisors LP grew its holdings in Cheesecake Factory by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,241,272 shares of the restaurant operator’s stock valued at $48,772,000 after purchasing an additional 43,128 shares in the last quarter. Earnest Partners LLC grew its holdings in Cheesecake Factory by 2.8% during the 2nd quarter. Earnest Partners LLC now owns 2,831,381 shares of the restaurant operator’s stock valued at $111,245,000 after purchasing an additional 76,578 shares in the last quarter. JCP Investment Management LLC acquired a new stake in Cheesecake Factory during the 2nd quarter valued at $5,149,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in Cheesecake Factory by 38.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 19,215 shares of the restaurant operator’s stock valued at $673,000 after purchasing an additional 5,360 shares in the last quarter. Hedge funds and other institutional investors 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.