Wedbush Boosts Cheesecake Factory (NASDAQ:CAKE) Price Target to $26.00

Cheesecake Factory (NASDAQ:CAKE) had its target price lifted by Wedbush from $24.00 to $26.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the restaurant operator’s stock.

Several other analysts also recently weighed in on the stock. Piper Sandler boosted their price target on shares of Cheesecake Factory from $23.00 to $27.00 and gave the stock an overweight rating in a research note on Thursday, June 4th. Jefferies Financial Group upped their price target on Cheesecake Factory from $18.00 to $20.00 and gave the stock a hold rating in a research note on Wednesday, April 22nd. ValuEngine raised Cheesecake Factory from a hold rating to a buy rating in a research report on Thursday, June 4th. Credit Suisse Group started coverage on Cheesecake Factory in a report on Thursday, July 9th. They set a neutral rating and a $24.00 price target on the stock. Finally, Robert W. Baird increased their price objective on shares of Cheesecake Factory from $19.00 to $20.00 and gave the company a neutral rating in a research report on Tuesday, April 21st. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $27.11.

Shares of Cheesecake Factory stock opened at $24.00 on Thursday. The stock has a market capitalization of $1.09 billion, a PE ratio of -100.00 and a beta of 1.39. The stock has a 50 day moving average price of $22.82 and a two-hundred day moving average price of $26.24. Cheesecake Factory has a 52 week low of $14.52 and a 52 week high of $45.24. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.44 and a current ratio of 0.53.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported ($0.87) earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm’s quarterly revenue was down 50.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 EPS. Research analysts forecast that Cheesecake Factory will post -1.72 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. grew its holdings in shares of Cheesecake Factory by 14.6% in the fourth quarter. Macquarie Group Ltd. now owns 2,546,016 shares of the restaurant operator’s stock worth $98,938,000 after purchasing an additional 324,852 shares during the last quarter. State Street Corp increased its holdings in shares of Cheesecake Factory by 0.4% in the first quarter. State Street Corp now owns 1,421,367 shares of the restaurant operator’s stock valued at $24,277,000 after purchasing an additional 6,317 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Cheesecake Factory by 21.6% in the first quarter. Wells Fargo & Company MN now owns 985,847 shares of the restaurant operator’s stock valued at $16,839,000 after acquiring an additional 175,054 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Cheesecake Factory by 23.1% during the 1st quarter. Schroder Investment Management Group now owns 716,861 shares of the restaurant operator’s stock worth $12,037,000 after purchasing an additional 134,752 shares during the period. Finally, Geode Capital Management LLC raised its position in Cheesecake Factory by 6.1% in the first quarter. Geode Capital Management LLC now owns 636,635 shares of the restaurant operator’s stock valued at $10,873,000 after purchasing an additional 36,782 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.

See Also: Hold Rating

Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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