Wedbush Reiterates Outperform Rating for Cheesecake Factory (NASDAQ:CAKE)

Cheesecake Factory (NASDAQ:CAKE)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a report released on Friday,Benzinga reports. They presently have a $52.00 target price on the restaurant operator’s stock. Wedbush’s target price suggests a potential upside of 10.78% from the company’s previous close.

A number of other research analysts also recently commented on CAKE. StockNews.com upgraded Cheesecake Factory from a “hold” rating to a “buy” rating in a research note on Monday. Stephens upped their price target on Cheesecake Factory from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a research note on Friday, October 25th. Barclays upped their price target on Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.17.

Cheesecake Factory Stock Down 0.8 %

NASDAQ CAKE traded down $0.36 on Friday, reaching $46.94. The stock had a trading volume of 266,196 shares, compared to its average volume of 962,836. The business has a 50 day moving average price of $40.84 and a 200 day moving average price of $38.87. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26. Cheesecake Factory has a 1 year low of $30.26 and a 1 year high of $50.75. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 1.25 and a beta of 1.47.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Cheesecake Factory had a return on equity of 45.66% and a net margin of 3.63%. The firm had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Cheesecake Factory will post 3.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CAKE. Allspring Global Investments Holdings LLC boosted its position in shares of Cheesecake Factory by 2,360.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 661 shares during the last quarter. GAMMA Investing LLC raised its stake in Cheesecake Factory by 276.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after buying an additional 1,064 shares during the period. nVerses Capital LLC acquired a new stake in Cheesecake Factory during the 2nd quarter worth $67,000. SG Americas Securities LLC acquired a new stake in Cheesecake Factory during the 1st quarter worth $121,000. Finally, Avantax Advisory Services Inc. acquired a new stake in Cheesecake Factory during the 1st quarter worth $202,000. 94.48% of the stock is currently owned by 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.