Barclays Increases Cheesecake Factory (NASDAQ:CAKE) Price Target to $38.00

Cheesecake Factory (NASDAQ:CAKE) had its price target boosted by analysts at Barclays from $35.00 to $38.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the restaurant operator’s stock. Barclays‘s price target points to a potential downside of 8.46% from the company’s current price.

Several other equities analysts have also recently commented on CAKE. Citigroup boosted their price target on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, October 4th. Wells Fargo & Company boosted their target price on Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their price objective on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, August 6th. Wedbush reissued an “outperform” rating and issued a $45.00 target price on shares of Cheesecake Factory in a research report on Tuesday. Finally, Stephens restated an “overweight” rating and set a $50.00 price target on shares of Cheesecake Factory in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Cheesecake Factory presently has an average rating of “Hold” and an average price target of $42.18.

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE opened at $41.51 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.32 and a current ratio of 0.43. The company has a market capitalization of $2.12 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. The stock has a fifty day moving average of $39.36 and a 200-day moving average of $38.02. Cheesecake Factory has a one year low of $29.27 and a one year high of $43.51.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The business had revenue of $904.04 million for the quarter, compared to analyst estimates of $909.19 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Cheesecake Factory will post 3.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CAKE. Allspring Global Investments Holdings LLC lifted its position in shares of Cheesecake Factory by 2,360.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 661 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Cheesecake Factory by 276.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after buying an additional 1,064 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Cheesecake Factory in the 2nd quarter valued at about $67,000. SG Americas Securities LLC acquired a new stake in shares of Cheesecake Factory in the first quarter valued at about $121,000. Finally, Avantax Advisory Services Inc. bought a new stake in Cheesecake Factory during the first quarter worth about $202,000. 94.48% of the stock is owned by institutional investors and hedge funds.

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.