StockNews.com Upgrades Cheesecake Factory (NASDAQ:CAKE) to Buy

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Monday.

A number of other research firms also recently issued reports on CAKE. UBS Group raised their price objective on shares of Cheesecake Factory from $32.00 to $36.00 and gave the stock a "sell" rating in a report on Friday, October 25th. Bank of America raised 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. JPMorgan Chase & Co. dropped their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an "underweight" rating on the stock in a report on Tuesday, August 6th. Wedbush raised their price objective on shares of Cheesecake Factory from $48.00 to $52.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, Barclays raised their target price on shares of Cheesecake Factory from $38.00 to $44.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cheesecake Factory has a consensus rating of "Hold" and a consensus target price of $44.17.

Cheesecake Factory Stock Down 0.6 %

CAKE stock traded down $0.27 during trading on Monday, hitting $45.55. 1,031,198 shares of the stock traded hands, compared to its average volume of 959,691. Cheesecake Factory has a 1 year low of $30.04 and a 1 year high of $49.75. The firm's 50 day moving average is $40.27 and its two-hundred day moving average is $38.56. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 1.27 and a beta of 1.47. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.43 and a quick ratio of 0.32.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. The firm had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 45.66%. The business's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. On average, sell-side analysts anticipate that Cheesecake Factory will post 3.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAKE. Allspring Global Investments Holdings LLC grew its holdings in shares of Cheesecake Factory by 2,360.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator's stock valued at $25,000 after purchasing an additional 661 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in Cheesecake Factory by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 40,881 shares of the restaurant operator's stock worth $1,478,000 after buying an additional 547 shares during the period. Duality Advisers LP purchased a new position in Cheesecake Factory during the first quarter worth $1,829,000. Sciencast Management LP purchased a new position in Cheesecake Factory during the first quarter worth $400,000. Finally, SG Americas Securities LLC purchased a new position in Cheesecake Factory during the first quarter worth $121,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

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.

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