Cheesecake Factory (NASDAQ:CAKE) Given New $47.00 Price Target at Robert W. Baird

Cheesecake Factory (NASDAQ:CAKE) had its price target lifted by Robert W. Baird from $40.00 to $47.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the restaurant operator’s stock.

Several other research analysts also recently weighed in on the stock. Bank of America increased their price target on shares of Cheesecake Factory from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Citigroup increased their price target on shares of Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. UBS Group increased their price target on shares of Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a research report on Friday, October 25th. Barclays increased their price objective on shares of Cheesecake Factory from $35.00 to $38.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $45.00 price objective on shares of Cheesecake Factory in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Cheesecake Factory has a consensus rating of “Hold” and an average target price of $44.17.

Cheesecake Factory Stock Up 8.8 %

Shares of Cheesecake Factory stock opened at $46.64 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.43 and a debt-to-equity ratio of 1.26. Cheesecake Factory has a twelve month low of $29.27 and a twelve month high of $49.75. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. The company’s 50 day moving average is $40.01 and its 200 day moving average is $38.36.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The business had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. During the same period last year, the firm earned $0.39 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Research analysts anticipate that Cheesecake Factory will post 3.21 EPS for the current year.

Hedge Funds Weigh In On Cheesecake Factory

Several institutional investors have recently bought and sold shares of CAKE. Allspring Global Investments Holdings LLC grew its stake in Cheesecake Factory by 2,360.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 661 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in Cheesecake Factory by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 40,881 shares of the restaurant operator’s stock valued at $1,478,000 after acquiring an additional 547 shares in the last quarter. Duality Advisers LP purchased a new position in Cheesecake Factory during the first quarter valued at $1,829,000. Sciencast Management LP bought a new position in Cheesecake Factory during the first quarter valued at $400,000. Finally, SG Americas Securities LLC bought a new stake in shares of Cheesecake Factory in the 1st quarter worth about $121,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

About Cheesecake Factory

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.