Maxim Group Cuts The Cheesecake Factory Incorporated (CAKE) Price Target to $54.00
The Cheesecake Factory Incorporated (NASDAQ:CAKE) had its price objective dropped by equities researchers at Maxim Group from $57.00 to $54.00 in a research report issued on Thursday. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Maxim Group’s price objective indicates a potential upside of 20.70% from the company’s current price.
Several other brokerages have also recently commented on CAKE. BidaskClub cut shares of The Cheesecake Factory from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Wells Fargo & Company cut their price target on shares of The Cheesecake Factory from $46.00 to $43.00 and set a “market perform” rating for the company in a research note on Tuesday, October 24th. Nomura cut their price target on shares of The Cheesecake Factory from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, August 3rd. Wedbush initiated coverage on shares of The Cheesecake Factory in a research note on Monday, July 10th. They issued an “outperform” rating and a $57.00 price target for the company. They noted that the move was a valuation call. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $46.00 price target on shares of The Cheesecake Factory in a research note on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $51.18.
The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.56 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.04). The firm had revenue of $555.40 million for the quarter, compared to analysts’ expectations of $566.09 million. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The Cheesecake Factory’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Gamco Investors INC. ET AL raised its holdings in The Cheesecake Factory by 5.7% in the 3rd quarter. Gamco Investors INC. ET AL now owns 673,853 shares of the restaurant operator’s stock worth $28,383,000 after purchasing an additional 36,250 shares in the last quarter. Legato Capital Management LLC raised its holdings in The Cheesecake Factory by 36.9% in the 3rd quarter. Legato Capital Management LLC now owns 21,634 shares of the restaurant operator’s stock worth $912,000 after purchasing an additional 5,836 shares in the last quarter. Dumont & Blake Investment Advisors LLC raised its holdings in The Cheesecake Factory by 47.3% in the 3rd quarter. Dumont & Blake Investment Advisors LLC now owns 16,280 shares of the restaurant operator’s stock worth $686,000 after purchasing an additional 5,225 shares in the last quarter. Palisade Capital Management LLC NJ bought a new position in The Cheesecake Factory in the 3rd quarter worth $6,104,000. Finally, Bridge City Capital LLC raised its holdings in The Cheesecake Factory by 8.7% in the 3rd quarter. Bridge City Capital LLC now owns 19,640 shares of the restaurant operator’s stock worth $827,000 after purchasing an additional 1,573 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.
The Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.
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