Cheesecake Factory (NASDAQ:CAKE) Stock Price Expected to Rise, Piper Sandler Analyst Says

Cheesecake Factory (NASDAQ:CAKE) had its target price lifted by investment analysts at Piper Sandler from $47.00 to $51.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s price objective would indicate a potential downside of 6.68% from the company’s current price.

CAKE has been the subject of several other reports. Bank of America upped 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. Raymond James upped 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. UBS Group raised their price target on Cheesecake Factory from $36.00 to $41.00 and gave the company a “sell” rating in a research report on Tuesday, January 7th. Jefferies Financial Group boosted their price objective on Cheesecake Factory from $49.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Wedbush raised their target price on Cheesecake Factory from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Cheesecake Factory has a consensus rating of “Hold” and an average price target of $52.19.

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE opened at $54.65 on Thursday. The stock has a market capitalization of $2.79 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.30 and a beta of 1.51. The business has a 50-day moving average of $51.16 and a two-hundred day moving average of $45.46. Cheesecake Factory has a fifty-two week low of $33.05 and a fifty-two week high of $57.32. 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 posted its earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. The firm had revenue of $920.96 million during the quarter, compared to analyst estimates of $912.67 million. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. On average, equities research analysts predict that Cheesecake Factory will post 3.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Cheesecake Factory

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Golden State Wealth Management LLC bought a new stake in Cheesecake Factory in the fourth quarter valued at about $25,000. Versant Capital Management Inc boosted its holdings in Cheesecake Factory by 108.1% during the fourth quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 320 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Cheesecake Factory in the 4th quarter valued at approximately $43,000. Venturi Wealth Management LLC grew its stake in shares of Cheesecake Factory by 1,149.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,312 shares of the restaurant operator’s stock valued at $62,000 after purchasing an additional 1,207 shares during the period. Finally, KBC Group NV raised its holdings in shares of Cheesecake Factory by 46.9% in the 4th quarter. KBC Group NV now owns 2,321 shares of the restaurant operator’s stock worth $110,000 after buying an additional 741 shares in the last quarter. 94.48% of the stock is owned by 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.