Cheesecake Factory (NASDAQ:CAKE) Stock Price Expected to Rise, Bank of America Analyst Says

Cheesecake Factory (NASDAQ:CAKE) had its price target boosted by Bank of America from $47.00 to $49.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

A number of other research firms have also weighed in on CAKE. UBS Group raised their price objective on Cheesecake Factory from $32.00 to $36.00 and gave the company a “sell” rating in a research report on Friday, October 25th. Stephens upped their price target on shares of Cheesecake Factory from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wells Fargo & Company increased their price objective on shares of Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” 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 report on Friday, October 4th. Finally, Robert W. Baird upped their target price on shares of Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cheesecake Factory currently has an average rating of “Hold” and an average price target of $44.17.

Cheesecake Factory Stock Performance

Shares of Cheesecake Factory stock opened at $46.64 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $2.38 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.13 and a beta of 1.49. The business has a fifty day simple moving average of $40.01 and a two-hundred day simple moving average of $38.36. Cheesecake Factory has a 12 month low of $29.27 and a 12 month high of $49.75.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The company had revenue of $865.50 million during the quarter, compared to analyst estimates of $866.13 million. During the same period last year, the business earned $0.39 EPS. Cheesecake Factory’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities analysts forecast 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 institutional investors and hedge funds have recently modified their holdings of the company. 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 period. Texas Permanent School Fund Corp increased its position in shares of Cheesecake Factory by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,881 shares of the restaurant operator’s stock valued at $1,478,000 after purchasing an additional 547 shares during the last quarter. Duality Advisers LP purchased a new stake in shares of Cheesecake Factory during the 1st quarter valued at about $1,829,000. Sciencast Management LP bought a new stake in Cheesecake Factory during the first quarter valued at approximately $400,000. Finally, SG Americas Securities LLC bought a new stake in Cheesecake Factory during the first quarter valued at approximately $121,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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.