Cheesecake Factory (NASDAQ:CAKE) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) had its target price raised by stock analysts at Robert W. Baird from $52.00 to $57.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the restaurant operator's stock. Robert W. Baird's price target indicates a potential upside of 4.30% from the stock's current price.

A number of other research firms have also issued reports on CAKE. Raymond James boosted their target price on Cheesecake Factory from $51.00 to $56.00 and gave the company an "outperform" rating in a report on Monday, December 16th. Wedbush boosted their target price on Cheesecake Factory from $52.00 to $59.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. Wells Fargo & Company boosted their target price on Cheesecake Factory from $38.00 to $45.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. StockNews.com lowered Cheesecake Factory from a "buy" rating to a "hold" rating in a report on Thursday, November 28th. Finally, Stephens upped their price objective on Cheesecake Factory from $51.00 to $57.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $52.19.

Cheesecake Factory Stock Performance

Shares of NASDAQ CAKE traded down $0.32 during midday trading on Thursday, reaching $54.65. 2,232,702 shares of the company were exchanged, compared to its average volume of 1,442,655. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19. Cheesecake Factory has a 1 year low of $33.05 and a 1 year high of $57.32. The stock has a fifty day simple moving average of $51.16 and a 200 day simple moving average of $45.46. The stock has a market cap of $2.79 billion, a P/E ratio of 17.08, a PEG ratio of 1.30 and a beta of 1.51.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.13. The business had revenue of $920.96 million for the quarter, compared to analyst estimates of $912.67 million. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. On average, research analysts forecast that Cheesecake Factory will post 3.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cheesecake Factory

Several large investors have recently added to or reduced their stakes in CAKE. Hennessy Advisors Inc. purchased a new position in Cheesecake Factory during the fourth quarter worth about $63,114,000. Wellington Management Group LLP purchased a new position in Cheesecake Factory during the fourth quarter worth about $56,288,000. Victory Capital Management Inc. lifted its position in Cheesecake Factory by 166.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,076,347 shares of the restaurant operator's stock worth $51,062,000 after buying an additional 673,076 shares during the period. Junto Capital Management LP purchased a new position in Cheesecake Factory during the fourth quarter worth about $21,827,000. Finally, JCP Investment Management LLC lifted its position in Cheesecake Factory by 181.3% during the fourth quarter. JCP Investment Management LLC now owns 667,210 shares of the restaurant operator's stock worth $31,652,000 after buying an additional 430,000 shares during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

About Cheesecake Factory

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.