Piper Sandler Boosts Cheesecake Factory (NASDAQ:CAKE) Price Target to $30.00

Cheesecake Factory (NASDAQ:CAKE) had its price target lifted by Piper Sandler from $27.00 to $30.00 in a research report report published on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the restaurant operator’s stock.

Several other equities analysts have also recently commented on CAKE. Wedbush increased their target price on Cheesecake Factory from $24.00 to $26.00 and gave the company a neutral rating in a research note on Thursday. Credit Suisse Group began coverage on shares of Cheesecake Factory in a report on Thursday, July 9th. They issued a neutral rating and a $24.00 price target on the stock. Telsey Advisory Group decreased their price objective on shares of Cheesecake Factory from $45.00 to $22.00 and set a market perform rating for the company in a report on Wednesday, May 6th. UBS Group dropped their target price on shares of Cheesecake Factory from $43.00 to $20.00 and set a neutral rating for the company in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group increased their price target on shares of Cheesecake Factory from $18.00 to $20.00 and gave the stock a hold rating in a research report on Wednesday, April 22nd. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. Cheesecake Factory presently has a consensus rating of Hold and an average price target of $27.11.

NASDAQ:CAKE opened at $24.00 on Thursday. The firm has a 50-day moving average of $22.82 and a two-hundred day moving average of $26.24. The company has a debt-to-equity ratio of 3.81, a current ratio of 0.53 and a quick ratio of 0.44. The stock has a market cap of $1.09 billion, a P/E ratio of -100.00 and a beta of 1.39. Cheesecake Factory has a 1-year low of $14.52 and a 1-year high of $45.24.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported ($0.87) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.07) by $0.20. The business had revenue of $295.85 million for the quarter, compared to analysts’ expectations of $309.57 million. Cheesecake Factory had a return on equity of 1.43% and a net margin of 0.20%. The company’s revenue was down 50.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. As a group, equities analysts expect that Cheesecake Factory will post -1.72 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Creative Financial Designs Inc. ADV boosted its holdings in shares of Cheesecake Factory by 77.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 1,581 shares of the restaurant operator’s stock valued at $27,000 after acquiring an additional 688 shares during the period. Parallel Advisors LLC acquired a new stake in shares of Cheesecake Factory in the 2nd quarter worth about $48,000. Tower Research Capital LLC TRC lifted its position in Cheesecake Factory by 304.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the restaurant operator’s stock valued at $63,000 after purchasing an additional 2,767 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cheesecake Factory by 65.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,912 shares of the restaurant operator’s stock valued at $67,000 after purchasing an additional 1,553 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Cheesecake Factory by 1,873.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,215 shares of the restaurant operator’s stock valued at $106,000 after purchasing an additional 5,900 shares during the period. 90.92% of the stock is currently owned by hedge funds and other institutional investors.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated engages in the operation of restaurants. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.

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Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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