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The Cheesecake Factory (NASDAQ:CAKE) was downgraded by equities research analysts at Bank of America from a “buy” rating to an “underperform” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $42.00 price objective on the stock, down from their previous price objective of $50.00. Bank of America’s price target indicates a potential downside of 5.60% from the stock’s previous close.

In other The Cheesecake Factory news, VP Debby R. Zurzolo sold 2,000 shares of The Cheesecake Factory stock on the open market in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $44.53, for a total transaction of $89,060.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The Cheesecake Factory in a research note on Thursday, July 31st. They now have a $47.00 price target on the stock, down previously from $50.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Cheesecake Factory in a research note on Monday, July 28th. They now have a $45.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of The Cheesecake Factory in a research note on Thursday, July 24th. They now have a $43.00 price target on the stock, down previously from $46.00. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $48.64.

The Cheesecake Factory (NASDAQ:CAKE) opened at 44.47 on Thursday. The Cheesecake Factory has a 52 week low of $41.52 and a 52 week high of $49.74. The stock’s 50-day moving average is $44.4 and its 200-day moving average is $45.89. The company has a market cap of $2.131 billion and a price-to-earnings ratio of 20.95.

The Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, July 23rd. The company reported $0.59 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.61 by $0.02. The company had revenue of $496.40 million for the quarter, compared to the consensus estimate of $502.03 million. During the same quarter last year, the company posted $0.54 earnings per share. The Cheesecake Factory’s revenue was up 5.6% compared to the same quarter last year. Analysts expect that The Cheesecake Factory will post $2.21 EPS for the current fiscal year.

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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