Cheesecake Factory (NASDAQ:CAKE) PT Raised to $38.00 at Piper Sandler

Cheesecake Factory (NASDAQ:CAKE) had its target price hoisted by Piper Sandler from $30.00 to $38.00 in a report released on Friday morning, The Fly reports. The brokerage currently has an overweight rating on the restaurant operator’s stock. Piper Sandler also issued estimates for Cheesecake Factory’s Q2 2021 earnings at $0.34 EPS, Q3 2021 earnings at $0.35 EPS and Q4 2021 earnings at $0.37 EPS.

A number of other analysts have also recently commented on the stock. Oppenheimer restated a hold rating on shares of Cheesecake Factory in a research report on Thursday, July 30th. JPMorgan Chase & Co. cut shares of Cheesecake Factory from a neutral rating to an underweight rating and set a $23.00 price objective for the company. in a research report on Wednesday, June 24th. Jefferies Financial Group restated a hold rating and issued a $25.00 price objective on shares of Cheesecake Factory in a research report on Tuesday, August 11th. Wells Fargo & Company upped their price objective on shares of Cheesecake Factory from $26.00 to $31.00 and gave the company an overweight rating in a research report on Friday, June 5th. Finally, Bank of America cut Cheesecake Factory from a neutral rating to an underperform rating in a report on Monday, August 3rd. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Cheesecake Factory has an average rating of Hold and a consensus target price of $27.79.

NASDAQ:CAKE opened at $27.86 on Friday. The stock’s fifty day moving average price is $28.11 and its two-hundred day moving average price is $23.29. Cheesecake Factory has a 52-week low of $14.52 and a 52-week high of $45.24. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.78 and a current ratio of 0.85. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -116.08 and a beta of 1.49.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, July 29th. The restaurant operator reported ($0.87) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.20. The company had revenue of $295.85 million during the quarter, compared to analysts’ expectations of $309.57 million. Cheesecake Factory had a net margin of 0.20% and a return on equity of 1.55%. The business’s revenue for the quarter was down 50.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. On average, equities analysts predict that Cheesecake Factory will post -1.28 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Bamco Inc. NY increased its stake in Cheesecake Factory by 108.1% in the second quarter. Bamco Inc. NY now owns 1,665,000 shares of the restaurant operator’s stock valued at $38,162,000 after acquiring an additional 865,000 shares during the last quarter. Prentice Capital Management LP bought a new position in Cheesecake Factory in the first quarter valued at approximately $10,261,000. Granite Investment Partners LLC bought a new position in Cheesecake Factory in the second quarter valued at approximately $13,584,000. Grantham Mayo Van Otterloo & Co. LLC bought a new position in Cheesecake Factory in the second quarter valued at approximately $10,502,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in Cheesecake Factory by 14.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,541,758 shares of the restaurant operator’s stock valued at $80,243,000 after acquiring an additional 443,339 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

About Cheesecake Factory

The Cheesecake Factory Incorporated engages in the operation of restaurants. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.

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Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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