Cheesecake Factory (NASDAQ:CAKE) Stock Crosses Above 200-Day Moving Average – Here’s Why

The Cheesecake Factory Incorporated (NASDAQ:CAKE)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $55.47 and traded as high as $58.74. Cheesecake Factory shares last traded at $57.37, with a volume of 1,097,395 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Bank of America decreased their target price on Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings lowered shares of Cheesecake Factory from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 15th. Robert W. Baird set a $57.00 target price on shares of Cheesecake Factory in a research note on Wednesday, October 29th. JPMorgan Chase & Co. reduced their target price on shares of Cheesecake Factory from $57.00 to $52.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Finally, Wells Fargo & Company decreased their price target on shares of Cheesecake Factory from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $59.41.

Cheesecake Factory Trading Down 2.6%

The stock has a market capitalization of $2.86 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.58 and a beta of 0.97. The stock’s 50 day moving average price is $51.86 and its 200-day moving average price is $55.47. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.32.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Tuesday, October 28th. The restaurant operator reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The company had revenue of $907.23 million during the quarter, compared to analyst estimates of $912.95 million. Cheesecake Factory had a return on equity of 46.35% and a net margin of 4.33%.Cheesecake Factory’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. As a group, equities research analysts expect that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Institutional Investors Weigh In On Cheesecake Factory

A number of institutional investors have recently added to or reduced their stakes in CAKE. Osaic Holdings Inc. grew its position in shares of Cheesecake Factory by 1,041.1% in the 2nd quarter. Osaic Holdings Inc. now owns 28,515 shares of the restaurant operator’s stock worth $1,786,000 after buying an additional 26,016 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Cheesecake Factory in the third quarter valued at approximately $2,743,000. Wealth Enhancement Advisory Services LLC grew its holdings in Cheesecake Factory by 11.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,329 shares of the restaurant operator’s stock worth $547,000 after purchasing an additional 864 shares during the last quarter. Blair William & Co. IL increased its position in shares of Cheesecake Factory by 105.7% during the second quarter. Blair William & Co. IL now owns 10,639 shares of the restaurant operator’s stock worth $667,000 after purchasing an additional 5,466 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Cheesecake Factory by 131.8% during the 2nd quarter. Intech Investment Management LLC now owns 97,055 shares of the restaurant operator’s stock valued at $6,081,000 after purchasing an additional 55,185 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.