Barclays Forecasts Strong Price Appreciation for Cheesecake Factory (NASDAQ:CAKE) Stock

Cheesecake Factory (NASDAQ:CAKE) had its price target hoisted by equities researchers at Barclays from $46.00 to $50.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the restaurant operator’s stock. Barclays‘s price objective indicates a potential downside of 7.90% from the company’s previous close.

CAKE has been the topic of several other research reports. Jefferies Financial Group lifted their price objective on Cheesecake Factory from $49.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, December 16th. StockNews.com downgraded shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Raymond James boosted their price target on shares of Cheesecake Factory from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Bank of America raised their price objective on shares of Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird upped their target price on shares of Cheesecake Factory from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $51.33.

Cheesecake Factory Price Performance

NASDAQ:CAKE opened at $54.29 on Thursday. 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 has a one year low of $33.05 and a one year high of $57.32. The company has a fifty day moving average price of $50.96 and a 200 day moving average price of $45.25. The stock has a market cap of $2.77 billion, a P/E ratio of 20.64, a PEG ratio of 1.28 and a beta of 1.51.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. Analysts anticipate that Cheesecake Factory will post 3.32 earnings per share for the current year.

Institutional Trading of Cheesecake Factory

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Cheesecake Factory by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 5,443,458 shares of the restaurant operator’s stock worth $258,238,000 after acquiring an additional 21,096 shares during the last quarter. State Street Corp lifted its position in shares of Cheesecake Factory by 3.7% during the third quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator’s stock worth $76,084,000 after purchasing an additional 67,550 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Cheesecake Factory by 12.4% in the fourth quarter. Invesco Ltd. now owns 1,412,483 shares of the restaurant operator’s stock valued at $67,008,000 after purchasing an additional 155,614 shares in the last quarter. American Century Companies Inc. raised its position in Cheesecake Factory by 15.8% in the 4th quarter. American Century Companies Inc. now owns 1,363,051 shares of the restaurant operator’s stock worth $64,663,000 after purchasing an additional 186,026 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in Cheesecake Factory during the 4th quarter worth $63,114,000. Institutional investors own 94.48% of the company’s stock.

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.