Share on StockTwits

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.

The Fly On The Wall

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.