StockNews.com Upgrades Cheesecake Factory (NASDAQ:CAKE) to Buy

Cheesecake Factory (NASDAQ:CAKE) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other research firms also recently issued reports on CAKE. JPMorgan Chase & Co. cut their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Company upped their target price on Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on shares of Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a research note on Friday, October 25th. Wedbush raised their price objective on shares of Cheesecake Factory from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Stephens raised their price objective on shares of Cheesecake Factory from $50.00 to $51.00 and gave the stock an “overweight” 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.17.

Cheesecake Factory Stock Down 0.6 %

Cheesecake Factory stock traded down $0.27 during trading hours on Monday, reaching $45.55. The stock had a trading volume of 1,031,198 shares, compared to its average volume of 959,691. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.27 and a beta of 1.47. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.43 and a quick ratio of 0.32. The business’s 50 day moving average price is $40.27 and its 200-day moving average price is $38.56. Cheesecake Factory has a 52 week low of $30.04 and a 52 week high of $49.75.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.63% and a return on equity of 45.66%. 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 prior year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that Cheesecake Factory will post 3.29 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of 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 during the last quarter. GAMMA Investing LLC grew its position in Cheesecake Factory by 276.4% in the 2nd 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 acquired a new position in Cheesecake Factory in the 2nd quarter valued at about $67,000. SG Americas Securities LLC acquired a new position in Cheesecake Factory in the 1st quarter valued at about $121,000. Finally, Wealth Alliance acquired a new position in Cheesecake Factory in the 2nd quarter valued at about $213,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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.