Cheesecake Factory (NASDAQ:CAKE) was downgraded by stock analysts at Gordon Haskett from a “buy” rating to a “hold” rating in a report released on Wednesday, The Fly reports.
CAKE has been the topic of several other reports. Jefferies Financial Group raised their target price on Cheesecake Factory from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Wedbush lifted their price objective on Cheesecake Factory from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Robert W. Baird lifted their price objective on Cheesecake Factory from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Stephens reaffirmed an “underweight” rating and set a $14.00 price objective on shares of Cheesecake Factory in a research report on Wednesday, May 13th. Finally, Wells Fargo & Co lifted their price objective on Cheesecake Factory from $26.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.85.
Shares of NASDAQ:CAKE opened at $22.92 on Wednesday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 10.61 and a beta of 1.35. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.32 and a current ratio of 0.40. The stock’s 50-day simple moving average is $22.39 and its two-hundred day simple moving average is $28.82. Cheesecake Factory has a 52-week low of $14.52 and a 52-week high of $45.24.
Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Tuesday, May 5th. The restaurant operator reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.50. The business had revenue of $615.11 million for the quarter, compared to analysts’ expectations of $617.28 million. Cheesecake Factory had a return on equity of 16.40% and a net margin of 3.86%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.62 earnings per share. As a group, equities analysts forecast that Cheesecake Factory will post -1.71 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. State Street Corp increased its stake in Cheesecake Factory by 0.4% in the 1st quarter. State Street Corp now owns 1,421,367 shares of the restaurant operator’s stock worth $24,277,000 after acquiring an additional 6,317 shares during the last quarter. Royal Bank of Canada increased its stake in Cheesecake Factory by 17.3% in the 1st quarter. Royal Bank of Canada now owns 80,268 shares of the restaurant operator’s stock worth $1,371,000 after acquiring an additional 11,860 shares during the last quarter. New Mexico Educational Retirement Board increased its stake in Cheesecake Factory by 36.1% in the 1st quarter. New Mexico Educational Retirement Board now owns 9,800 shares of the restaurant operator’s stock worth $167,000 after acquiring an additional 2,600 shares during the last quarter. HighTower Advisors LLC increased its stake in Cheesecake Factory by 366.2% in the 1st quarter. HighTower Advisors LLC now owns 30,551 shares of the restaurant operator’s stock worth $519,000 after acquiring an additional 23,998 shares during the last quarter. Finally, Prentice Capital Management LP bought a new stake in Cheesecake Factory in the 1st quarter worth approximately $10,261,000. 91.24% of the stock is currently owned by institutional investors and hedge funds.
Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated engages in the operation of restaurants. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.
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