Cheesecake Factory (NASDAQ:CAKE) Stock Rating Lowered by BidaskClub

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Cheesecake Factory (NASDAQ:CAKE) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on the company. ValuEngine raised Cheesecake Factory from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 price target (down from $54.00) on shares of Cheesecake Factory in a research note on Thursday, August 1st. Maxim Group reaffirmed a “buy” rating and issued a $61.00 price target on shares of Cheesecake Factory in a research note on Thursday, August 1st. Deutsche Bank assumed coverage on Cheesecake Factory in a research note on Friday, June 28th. They issued a “hold” rating and a $46.00 price target on the stock. Finally, Bank of America reaffirmed a “neutral” rating and issued a $46.00 price target (down from $51.00) on shares of Cheesecake Factory in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Cheesecake Factory has an average rating of “Hold” and an average target price of $49.58.

CAKE stock traded up $0.50 during midday trading on Friday, hitting $39.07. The stock had a trading volume of 540,657 shares, compared to its average volume of 764,445. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 1.25 and a beta of 0.45. The business has a 50-day moving average of $39.87 and a two-hundred day moving average of $43.77. Cheesecake Factory has a 52-week low of $35.83 and a 52-week high of $52.91. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.36 and a quick ratio of 0.26.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The company had revenue of $602.65 million for the quarter, compared to analysts’ expectations of $612.16 million. Cheesecake Factory had a return on equity of 21.31% and a net margin of 4.52%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share. Research analysts predict that Cheesecake Factory will post 2.62 earnings per share for the current year.

In related news, Director Edie A. Ames bought 750 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of $42.18 per share, with a total value of $31,635.00. Following the completion of the purchase, the director now owns 3,880 shares in the company, valued at approximately $163,658.40. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Laurence B. Mindel bought 2,500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $39.04 per share, for a total transaction of $97,600.00. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its position in shares of Cheesecake Factory by 379.3% during the first quarter. Advisory Services Network LLC now owns 647 shares of the restaurant operator’s stock valued at $32,000 after buying an additional 512 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Cheesecake Factory by 8,033.3% during the second quarter. Tower Research Capital LLC TRC now owns 732 shares of the restaurant operator’s stock valued at $32,000 after buying an additional 723 shares during the last quarter. Prestige Wealth Management Group LLC purchased a new stake in shares of Cheesecake Factory during the second quarter valued at $69,000. MUFG Securities EMEA plc purchased a new stake in shares of Cheesecake Factory during the second quarter valued at $120,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Cheesecake Factory during the second quarter valued at $219,000.

Cheesecake Factory Company Profile

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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