Cheesecake Factory Now Covered by Credit Suisse (CAKE)
Investment analysts at Credit Suisse started coverage on shares of Cheesecake Factory (NASDAQ:CAKE) in a note issued to investors on Tuesday, AmericanBankingNews.com reports. The firm set an “outperform” rating on the stock.
Cheesecake Factory (NASDAQ:CAKE) traded up 0.83% during mid-day trading on Tuesday, hitting $47.54. 295,134 shares of the company’s stock traded hands. Cheesecake Factory has a 1-year low of $32.64 and a 1-year high of $49.74. The stock’s 50-day moving average is $48.25 and its 200-day moving average is $44.83. The company has a market cap of $2.414 billion and a price-to-earnings ratio of 24.96.
Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $469.70 million for the quarter, compared to the consensus estimate of $468.72 million. During the same quarter last year, the company posted $0.49 earnings per share. Cheesecake Factory’s revenue was up 3.5% compared to the same quarter last year. On average, analysts predict that Cheesecake Factory will post $2.12 earnings per share for the current fiscal year.
CAKE has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Cheesecake Factory in a research note to investors on Friday, December 13th. They now have a $50.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Cheesecake Factory from $40.00 to $47.00 in a research note to investors on Tuesday, November 26th. Finally, analysts at Thomson Reuters/Verus downgraded shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research note to investors on Monday, October 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $44.71.
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery businesses. As of February 28, 2013, it operated 177 Company-owned upscale, casual dining, full-service restaurants: 162 under The Cheesecake Factory mark, 14 under the Grand Lux Cafe mark and one under the RockSugar Pan Asian Kitchen mark.
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