Cheesecake Factory (NASDAQ:CAKE) Stock Price Expected to Rise, Raymond James Analyst Says

Cheesecake Factory (NASDAQ:CAKE) had its target price raised by research analysts at Raymond James from $51.00 to $56.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Raymond James’ price target would indicate a potential upside of 11.24% from the stock’s current price.

CAKE has been the topic of several other research reports. The Goldman Sachs Group began coverage on shares of Cheesecake Factory in a report on Thursday, December 5th. They set a “buy” rating and a $56.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com lowered shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Bank of America boosted their price objective on shares of Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Stephens boosted their price objective on shares of Cheesecake Factory from $51.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Cheesecake Factory has a consensus rating of “Hold” and a consensus price target of $47.15.

Cheesecake Factory Stock Performance

NASDAQ:CAKE opened at $50.34 on Monday. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.37 and a beta of 1.48. The firm’s fifty day simple moving average is $45.92 and its 200 day simple moving average is $41.15. Cheesecake Factory has a twelve month low of $31.24 and a twelve month high of $52.10.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. The business had revenue of $865.50 million for the quarter, compared to analyst estimates of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, equities research analysts expect that Cheesecake Factory will post 3.31 earnings per share for the current fiscal year.

Insider Activity at Cheesecake Factory

In related news, insider Keith Carango sold 13,095 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total transaction of $653,178.60. Following the completion of the sale, the insider now owns 14,977 shares of the company’s stock, valued at $747,052.76. This represents a 46.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Cheesecake Factory

A number of institutional investors have recently modified their holdings of the business. Pathstone Holdings LLC grew its position in shares of Cheesecake Factory by 0.9% during the 3rd quarter. Pathstone Holdings LLC now owns 37,540 shares of the restaurant operator’s stock valued at $1,522,000 after buying an additional 329 shares during the last quarter. Arizona State Retirement System boosted its stake in Cheesecake Factory by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 13,593 shares of the restaurant operator’s stock valued at $534,000 after purchasing an additional 337 shares during the period. Louisiana State Employees Retirement System boosted its stake in Cheesecake Factory by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the restaurant operator’s stock valued at $927,000 after purchasing an additional 500 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Cheesecake Factory by 2.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,110 shares of the restaurant operator’s stock valued at $937,000 after purchasing an additional 532 shares during the period. Finally, Atria Investments Inc boosted its stake in Cheesecake Factory by 8.2% during the 3rd quarter. Atria Investments Inc now owns 9,074 shares of the restaurant operator’s stock valued at $368,000 after purchasing an additional 689 shares during the period. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.