Cheesecake Factory (NASDAQ:CAKE) Stock Rating Upgraded by Oppenheimer

Cheesecake Factory (NASDAQ:CAKE) was upgraded by research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, MarketBeat.com reports. The firm presently has a $65.00 price target on the restaurant operator’s stock. Oppenheimer’s target price suggests a potential upside of 30.71% from the company’s previous close.

Other research analysts have also issued research reports about the company. UBS Group boosted their price objective on Cheesecake Factory from $36.00 to $41.00 and gave the company a “sell” rating in a research report on Tuesday. Robert W. Baird upped their price target on shares of Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Cheesecake Factory from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Stephens upped their target price on shares of Cheesecake Factory from $51.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Finally, Barclays lifted their price target on Cheesecake Factory from $38.00 to $44.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.40.

Cheesecake Factory Stock Down 1.4 %

CAKE stock opened at $49.73 on Tuesday. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.37 and a beta of 1.50. Cheesecake Factory has a 1-year low of $31.24 and a 1-year high of $52.10. The firm has a fifty day moving average price of $48.51 and a two-hundred day moving average price of $42.31. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The business had revenue of $865.50 million during the quarter, compared to the consensus estimate of $866.13 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts predict that Cheesecake Factory will post 3.31 EPS for the current year.

Insider Buying and Selling

In other news, insider Keith Carango sold 13,095 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total transaction of $653,178.60. Following the completion of the sale, the insider now directly owns 14,977 shares of the company’s stock, valued at $747,052.76. This represents a 46.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 8.10% of the company’s stock.

Institutional Trading of Cheesecake Factory

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc increased its position in shares of Cheesecake Factory by 108.1% in the fourth quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 320 shares in the last quarter. Wealth Alliance acquired a new position in Cheesecake Factory in the 2nd quarter worth approximately $213,000. Glenmede Trust Co. NA acquired a new position in Cheesecake Factory in the 3rd quarter worth approximately $223,000. Foundations Investment Advisors LLC purchased a new position in Cheesecake Factory during the 3rd quarter worth approximately $227,000. Finally, Commonwealth Equity Services LLC raised its stake in Cheesecake Factory by 13.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,771 shares of the restaurant operator’s stock valued at $266,000 after purchasing an additional 802 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

Cheesecake Factory Company Profile

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.