Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $52.00 at Piper Jaffray Companies

Cheesecake Factory (NASDAQ:CAKE) had its price objective lifted by Piper Jaffray Companies from $45.00 to $52.00 in a research note issued to investors on Monday, January 8th, MarketBeat reports. They currently have an overweight rating on the restaurant operator’s stock.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Cheesecake Factory from a sell rating to a hold rating in a report on Thursday, November 2nd. Wedbush lowered shares of Cheesecake Factory from an outperform rating to a neutral rating and lowered their price objective for the stock from $52.00 to $44.00 in a report on Tuesday, September 26th. BTIG Research reaffirmed a buy rating and issued a $50.00 target price on shares of Cheesecake Factory in a research note on Wednesday, September 20th. Nomura decreased their target price on shares of Cheesecake Factory from $44.00 to $43.00 and set a neutral rating on the stock in a research note on Friday, October 27th. Finally, Maxim Group decreased their target price on shares of Cheesecake Factory from $57.00 to $54.00 and set a buy rating on the stock in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Cheesecake Factory currently has a consensus rating of Hold and a consensus target price of $48.88.

Shares of Cheesecake Factory (CAKE) traded down $1.00 during trading on Monday, reaching $48.77. 770,675 shares of the company’s stock traded hands, compared to its average volume of 944,217. Cheesecake Factory has a twelve month low of $38.34 and a twelve month high of $67.14. The company has a market capitalization of $2,230.00, a price-to-earnings ratio of 18.00, a PEG ratio of 1.29 and a beta of 0.33. The company has a current ratio of 0.51, a quick ratio of 0.37 and a debt-to-equity ratio of 0.05.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.04). The company had revenue of $555.40 million for the quarter, compared to the consensus estimate of $566.09 million. Cheesecake Factory had a net margin of 5.76% and a return on equity of 21.65%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 earnings per share. analysts anticipate that Cheesecake Factory will post 2.6 EPS for the current year.

In related news, VP Debby R. Zurzolo sold 2,306 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $44.75, for a total value of $103,193.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Herbert Simon purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average price of $43.50 per share, for a total transaction of $1,087,500.00. The disclosure for this purchase can be found here. 8.40% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Cheesecake Factory by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,171,917 shares of the restaurant operator’s stock valued at $209,847,000 after acquiring an additional 146,756 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Cheesecake Factory by 54.8% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,457,364 shares of the restaurant operator’s stock valued at $103,504,000 after acquiring an additional 869,579 shares during the period. State Street Corp lifted its stake in Cheesecake Factory by 4.3% during the 2nd quarter. State Street Corp now owns 1,526,476 shares of the restaurant operator’s stock valued at $76,779,000 after acquiring an additional 63,301 shares during the period. Macquarie Group Ltd. lifted its stake in Cheesecake Factory by 7.5% during the 3rd quarter. Macquarie Group Ltd. now owns 1,453,386 shares of the restaurant operator’s stock valued at $61,216,000 after acquiring an additional 101,513 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Cheesecake Factory by 8.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,322,377 shares of the restaurant operator’s stock valued at $55,698,000 after acquiring an additional 106,475 shares during the period. Institutional investors own 99.27% of the company’s stock.

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About Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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