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

Cheesecake Factory (NASDAQ:CAKE)‘s stock had its “outperform” rating restated by Wedbush in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $52.00 price target on the restaurant operator’s stock. Wedbush’s price target suggests a potential upside of 10.78% from the company’s current price.

A number of other equities analysts have also recently commented on CAKE. JPMorgan Chase & Co. reduced their price target on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, August 6th. UBS Group lifted their price target on Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a report on Friday, October 25th. Citigroup boosted their price objective on Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Barclays boosted their price objective on Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded Cheesecake Factory from a “hold” rating to a “buy” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.17.

Cheesecake Factory Stock Down 0.8 %

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

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, topping 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 business had revenue of $865.50 million during the quarter, compared to analysts’ expectations of $866.13 million. During the same quarter last year, the company posted $0.39 earnings per share. Cheesecake Factory’s quarterly revenue was up 4.3% on a year-over-year basis. Research analysts forecast that Cheesecake Factory will post 3.3 EPS for the current fiscal year.

Institutional Trading of Cheesecake Factory

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAKE. Allspring Global Investments Holdings LLC increased its holdings in Cheesecake Factory by 2,360.7% during 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 in the last quarter. GAMMA Investing LLC grew its holdings in shares of Cheesecake Factory by 276.4% in the second quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock valued at $57,000 after acquiring an additional 1,064 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Cheesecake Factory in the second quarter valued at approximately $67,000. SG Americas Securities LLC bought a new position in shares of Cheesecake Factory in the first quarter valued at approximately $121,000. Finally, Avantax Advisory Services Inc. bought a new position in shares of Cheesecake Factory in the first quarter valued at approximately $202,000. 94.48% of the stock is owned by 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.