Cheesecake Factory (NASDAQ:CAKE) Given New $38.00 Price Target at Morgan Stanley

Cheesecake Factory (NASDAQ:CAKE) had its price objective cut by Morgan Stanley from $43.00 to $38.00 in a report released on Friday morning, Price Targets.com reports. They currently have an underweight rating on the restaurant operator’s stock.

A number of other research analysts have also issued reports on CAKE. Jefferies Financial Group upgraded shares of Cheesecake Factory from a hold rating to a buy rating and upped their target price for the company from $55.00 to $60.00 in a report on Friday, September 24th. Piper Sandler downgraded shares of Cheesecake Factory from an overweight rating to a neutral rating and dropped their price objective for the company from $65.00 to $44.00 in a research note on Monday, January 3rd. Stephens raised shares of Cheesecake Factory from an equal weight rating to an overweight rating and dropped their price objective for the company from $53.00 to $47.00 in a research note on Wednesday, January 5th. Barclays dropped their price objective on shares of Cheesecake Factory from $40.00 to $37.00 and set an underweight rating for the company in a research note on Wednesday, December 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Cheesecake Factory from $50.00 to $47.00 and set a hold rating for the company in a research note on Thursday, November 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Cheesecake Factory currently has an average rating of Hold and an average target price of $50.96.

NASDAQ:CAKE opened at $37.51 on Friday. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 288.56, a price-to-earnings-growth ratio of 1.46 and a beta of 1.58. The company has a current ratio of 0.56, a quick ratio of 0.48 and a debt-to-equity ratio of 1.45. The company’s 50-day moving average is $40.49 and its two-hundred day moving average is $44.27. Cheesecake Factory has a 12-month low of $36.41 and a 12-month high of $65.81.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Wednesday, November 3rd. The restaurant operator reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.05). The firm had revenue of $754.50 million during the quarter, compared to analysts’ expectations of $763.45 million. Cheesecake Factory had a net margin of 1.40% and a return on equity of 25.01%. Cheesecake Factory’s revenue for the quarter was up 45.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.33) earnings per share. On average, equities research analysts forecast that Cheesecake Factory will post 2.23 earnings per share for the current fiscal year.

In other Cheesecake Factory news, Director Edie A. Ames bought 1,650 shares of Cheesecake Factory stock in a transaction dated Wednesday, November 10th. The stock was bought at an average cost of $45.12 per share, for a total transaction of $74,448.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Impact Advisors LLC bought a new position in Cheesecake Factory during the second quarter worth $1,084,000. Scout Investments Inc. lifted its stake in Cheesecake Factory by 24.0% during the third quarter. Scout Investments Inc. now owns 182,962 shares of the restaurant operator’s stock worth $8,599,000 after purchasing an additional 35,408 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Cheesecake Factory by 48.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 63,534 shares of the restaurant operator’s stock worth $2,986,000 after purchasing an additional 20,740 shares during the last quarter. Border to Coast Pensions Partnership Ltd bought a new position in Cheesecake Factory during the second quarter worth $10,414,230,000. Finally, Citigroup Inc. increased its position in Cheesecake Factory by 80.0% in the second quarter. Citigroup Inc. now owns 57,136 shares of the restaurant operator’s stock worth $3,096,000 after buying an additional 25,392 shares during the period. Hedge funds and other institutional investors own 76.60% of the company’s stock.

About Cheesecake Factory

Cheesecake Factory, Inc engages in the operation of restaurant chains. It operates through The Cheesecake Factory, North Italia, Other FRC and Other segments. The Cheesecake Factory segment offers appetizers, pizza, seafood, steaks, chicken, burgers, small plates, pastas, salads, sandwiches and omelettes, and a selection of gluten-free items.

Recommended Story: dividend yield calculator

Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

Receive News & Ratings for Cheesecake Factory Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cheesecake Factory and related companies with MarketBeat.com's FREE daily email newsletter.