Barclays Increases Cheesecake Factory (CAKE) Price Target to $47.00
Cheesecake Factory (NASDAQ:CAKE) had its price target raised by analysts at Barclays from $43.00 to $47.00 in a research note issued to investors on Tuesday. The firm presently has an “equal weight” rating on the restaurant operator’s stock. Barclays’ target price suggests a potential downside of 1.32% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. TheStreet raised Cheesecake Factory from a “c+” rating to a “b” rating in a research report on Friday, January 5th. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Cheesecake Factory in a research report on Wednesday, September 20th. Maxim Group dropped their price target on Cheesecake Factory from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Stephens dropped their price target on Cheesecake Factory from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. Finally, Morgan Stanley dropped their price target on Cheesecake Factory from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $48.81.
Shares of Cheesecake Factory (NASDAQ:CAKE) traded down $0.55 during trading on Tuesday, reaching $47.63. The company’s stock had a trading volume of 1,118,615 shares, compared to its average volume of 1,062,020. The company has a market cap of $2,180.00, a P/E ratio of 17.58, a PEG ratio of 1.25 and a beta of 0.33. The company has a quick ratio of 0.37, a current ratio of 0.51 and a debt-to-equity ratio of 0.05. Cheesecake Factory has a 12 month low of $38.34 and a 12 month high of $67.14.
Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.04). The business had revenue of $555.40 million during the quarter, compared to the consensus estimate of $566.09 million. Cheesecake Factory had a net margin of 5.76% and a return on equity of 21.65%. The business’s revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS. equities analysts anticipate that Cheesecake Factory will post 2.6 EPS for the current year.
In related news, VP Debby R. Zurzolo sold 2,306 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $44.75, for a total transaction of $103,193.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Herbert Simon acquired 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average cost of $43.50 per share, for a total transaction of $1,087,500.00. The disclosure for this purchase can be found here. 8.40% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Tiedemann Wealth Management LLC boosted its position in Cheesecake Factory by 22.9% during the third quarter. Tiedemann Wealth Management LLC now owns 17,347 shares of the restaurant operator’s stock valued at $134,000 after purchasing an additional 3,237 shares in the last quarter. Victory Capital Management Inc. boosted its position in Cheesecake Factory by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,216 shares of the restaurant operator’s stock valued at $162,000 after purchasing an additional 482 shares in the last quarter. Riverhead Capital Management LLC boosted its position in Cheesecake Factory by 105.5% during the second quarter. Riverhead Capital Management LLC now owns 3,493 shares of the restaurant operator’s stock valued at $176,000 after purchasing an additional 1,793 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Cheesecake Factory during the second quarter valued at about $205,000. Finally, BlueMountain Capital Management LLC bought a new stake in Cheesecake Factory during the second quarter valued at about $243,000.
About Cheesecake Factory
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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