The Cheesecake Factory (NASDAQ:CAKE) had its target price lifted by Morgan Stanley from $19.00 to $26.00 in a research report sent to investors on Wednesday, Anlyst Ratings reports. Morgan Stanley currently has an underweight rating on the restaurant operator’s stock.
Several other brokerages have also commented on CAKE. Jefferies Financial Group reaffirmed a hold rating and issued a $25.00 price target on shares of The Cheesecake Factory in a research note on Tuesday, August 11th. Wedbush upped their target price on shares of The Cheesecake Factory from $24.00 to $26.00 and gave the stock a neutral rating in a report on Thursday, July 30th. Credit Suisse Group assumed coverage on shares of The Cheesecake Factory in a research report on Thursday, July 9th. They set a neutral rating and a $24.00 target price for the company. Gordon Haskett lowered shares of The Cheesecake Factory from a buy rating to a hold rating and reduced their price target for the company from $32.00 to $27.00 in a research report on Wednesday, July 1st. Finally, BofA Securities lowered shares of The Cheesecake Factory from a neutral rating to an underperform rating in a report on Monday, August 3rd. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The Cheesecake Factory has a consensus rating of Hold and an average price target of $28.32.
NASDAQ:CAKE opened at $30.48 on Wednesday. The company has a 50-day moving average of $29.65 and a 200-day moving average of $24.00. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -126.99 and a beta of 1.50. The Cheesecake Factory has a 52 week low of $14.52 and a 52 week high of $45.24. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.78 and a current ratio of 0.85.
The Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, July 29th. The restaurant operator reported ($0.87) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.07) by $0.20. The business had revenue of $295.85 million for the quarter, compared to analysts’ expectations of $309.57 million. The Cheesecake Factory had a net margin of 0.20% and a return on equity of 1.55%. The firm’s revenue for the quarter was down 50.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Sell-side analysts forecast that The Cheesecake Factory will post -1.21 EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Two Sigma Advisers LP raised its holdings in The Cheesecake Factory by 286.9% during the 1st quarter. Two Sigma Advisers LP now owns 174,900 shares of the restaurant operator’s stock worth $2,987,000 after purchasing an additional 129,700 shares during the last quarter. APG Asset Management N.V. bought a new position in shares of The Cheesecake Factory in the 1st quarter valued at about $15,989,000. UBS Group AG grew its position in shares of The Cheesecake Factory by 2.1% during the 2nd quarter. UBS Group AG now owns 379,403 shares of the restaurant operator’s stock worth $8,695,000 after buying an additional 7,657 shares during the period. WINTON GROUP Ltd bought a new stake in shares of The Cheesecake Factory during the second quarter worth approximately $1,060,000. Finally, Victory Capital Management Inc. raised its stake in shares of The Cheesecake Factory by 438.5% during the second quarter. Victory Capital Management Inc. now owns 504,707 shares of the restaurant operator’s stock worth $11,568,000 after buying an additional 410,986 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.
The Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated engages in the operation of restaurants. As of February 26, 2020, it owned and operated 294 restaurants in the United States and Canada under the brands of The Cheesecake Factory and North Italia; and a collection of Fox Restaurant Concepts, as well as 26 The Cheesecake Factory restaurants operated under licensing agreements internationally.
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