Cheesecake Factory (NASDAQ:CAKE) Upgraded at Raymond James

Cheesecake Factory (NASDAQ:CAKE) was upgraded by stock analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, FinViz reports. The brokerage currently has a $42.00 target price on the restaurant operator’s stock. Raymond James’ price objective indicates a potential upside of 23.64% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price target on the stock. in a research report on Tuesday, January 23rd. Wedbush reissued an “outperform” rating and issued a $40.00 price objective on shares of Cheesecake Factory in a research note on Wednesday, April 10th. Piper Sandler lifted their target price on Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Barclays increased their price target on Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, February 22nd. Finally, Stephens restated an “overweight” rating and set a $44.00 price objective on shares of Cheesecake Factory in a research note on Friday, April 12th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $35.27.

Cheesecake Factory Trading Down 0.1 %

NASDAQ CAKE opened at $33.97 on Thursday. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48. Cheesecake Factory has a 52 week low of $28.58 and a 52 week high of $38.19. The business has a 50 day moving average price of $35.14 and a 200-day moving average price of $33.97. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 1.12 and a beta of 1.48.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. Cheesecake Factory had a net margin of 2.95% and a return on equity of 41.66%. The business had revenue of $891.22 million during the quarter, compared to analyst estimates of $890.49 million. During the same quarter in the previous year, the business posted $0.61 EPS. Cheesecake Factory’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities analysts expect that Cheesecake Factory will post 3.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. South Dakota Investment Council purchased a new position in shares of Cheesecake Factory in the fourth quarter valued at $844,000. Sapient Capital LLC bought a new stake in shares of Cheesecake Factory during the fourth quarter valued at about $6,827,000. Envestnet Asset Management Inc. increased its position in shares of Cheesecake Factory by 46.9% during the third quarter. Envestnet Asset Management Inc. now owns 411,017 shares of the restaurant operator’s stock valued at $12,454,000 after buying an additional 131,295 shares during the period. Advisors Preferred LLC purchased a new stake in shares of Cheesecake Factory in the fourth quarter worth about $2,335,000. Finally, IPG Investment Advisors LLC bought a new position in shares of Cheesecake Factory in the third quarter valued at approximately $2,246,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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.