Cheesecake Factory (NASDAQ:CAKE) Raised to Buy at StockNews.com

Cheesecake Factory (NASDAQ:CAKE) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

A number of other research firms also recently commented on CAKE. Barclays lifted their target price on Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Wedbush upped their price objective on shares of Cheesecake Factory from $52.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Wells Fargo & Company raised their target price on shares of Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their target price 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, Robert W. Baird increased their price target on Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and an average price target of $44.75.

Cheesecake Factory Stock Down 0.4 %

NASDAQ:CAKE opened at $46.43 on Wednesday. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19. Cheesecake Factory has a twelve month low of $30.96 and a twelve month high of $50.75. The company has a market cap of $2.37 billion, a PE ratio of 17.65, a P/E/G ratio of 1.28 and a beta of 1.47. The company’s 50 day moving average is $42.74 and its two-hundred day moving average is $39.75.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The firm had revenue of $865.50 million for the quarter, compared to analyst estimates of $866.13 million. During the same period in the previous year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that Cheesecake Factory will post 3.3 EPS for the current year.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, insider Keith Carango sold 13,095 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total value of $653,178.60. Following the transaction, the insider now directly owns 14,977 shares of the company’s stock, valued at $747,052.76. This trade represents a 46.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On 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 lifted its holdings in 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 acquiring an additional 661 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Cheesecake Factory during the 1st quarter worth $121,000. Avantax Advisory Services Inc. acquired a new stake in shares of Cheesecake Factory during the 1st quarter worth about $202,000. ProShare Advisors LLC raised its holdings in Cheesecake Factory by 5.9% in the 1st quarter. ProShare Advisors LLC now owns 9,608 shares of the restaurant operator’s stock valued at $347,000 after buying an additional 537 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its position in Cheesecake Factory by 38.7% in the first 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 buying an additional 5,360 shares during the last quarter. Institutional investors and hedge funds 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.