Cheesecake Factory (CAKE) Given New $52.00 Price Target at Piper Jaffray Companies

Cheesecake Factory (NASDAQ:CAKE) had its price target increased by equities researchers at Piper Jaffray Companies from $45.00 to $52.00 in a report released on Monday. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 3.57% from the stock’s current price.

Several other equities analysts have also weighed in on CAKE. Zacks Investment Research raised shares of Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Thursday. Barclays dropped their price objective on shares of Cheesecake Factory from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 18th. Morgan Stanley dropped their price objective on shares of Cheesecake Factory from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Maxim Group dropped their price objective on shares of Cheesecake Factory from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Finally, Wedbush lowered shares of Cheesecake Factory from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $52.00 to $44.00 in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $48.19.

Shares of Cheesecake Factory (NASDAQ CAKE) traded up $0.02 during mid-day trading on Monday, reaching $50.21. 845,900 shares of the company’s stock were exchanged, compared to its average volume of 988,200. The firm has a market capitalization of $2,298.88, a PE ratio of 18.53, a P/E/G ratio of 1.31 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 has a 12-month low of $38.34 and a 12-month high of $67.14.

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

In other Cheesecake Factory news, Director Herbert Simon purchased 25,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average cost of $43.50 per share, with a total value of $1,087,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Debby R. Zurzolo sold 2,306 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $44.75, for a total transaction of $103,193.50. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Tiedemann Wealth Management LLC grew its stake in Cheesecake Factory by 22.9% during the third quarter. Tiedemann Wealth Management LLC now owns 17,347 shares of the restaurant operator’s stock worth $134,000 after buying an additional 3,237 shares in the last quarter. Victory Capital Management Inc. grew its stake in Cheesecake Factory by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,216 shares of the restaurant operator’s stock worth $162,000 after buying an additional 482 shares in the last quarter. Riverhead Capital Management LLC grew its stake in Cheesecake Factory by 105.5% during the second quarter. Riverhead Capital Management LLC now owns 3,493 shares of the restaurant operator’s stock worth $176,000 after buying an additional 1,793 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Cheesecake Factory during the second quarter worth about $205,000. Finally, BlueMountain Capital Management LLC acquired a new stake in Cheesecake Factory during the second quarter worth about $243,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

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Cheesecake Factory Company Profile

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.

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