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

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

Other research analysts have also recently issued research reports about the company. Wedbush upped their price target on Cheesecake Factory from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday. Oppenheimer raised Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Tuesday, January 7th. Raymond James increased their price target on Cheesecake Factory from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. 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 report on Monday, December 16th. Finally, UBS Group upped their price objective on shares of Cheesecake Factory from $36.00 to $41.00 and gave the company a “sell” rating in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cheesecake Factory has an average rating of “Hold” and an average price target of $52.19.

Cheesecake Factory Trading Down 0.6 %

Shares of CAKE stock opened at $54.65 on Thursday. The stock has a 50-day simple moving average of $51.16 and a 200 day simple moving average of $45.46. 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. Cheesecake Factory has a fifty-two week low of $33.05 and a fifty-two week high of $57.32. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.13. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. The company had revenue of $920.96 million during the quarter, compared to analyst estimates of $912.67 million. On average, sell-side analysts expect that Cheesecake Factory will post 3.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cheesecake Factory

A number of institutional investors have recently modified their holdings of CAKE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Cheesecake Factory by 15.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,208 shares of the restaurant operator’s stock valued at $4,801,000 after purchasing an additional 13,678 shares during the last quarter. Voloridge Investment Management LLC raised its stake in shares of Cheesecake Factory by 42.7% during the 4th quarter. Voloridge Investment Management LLC now owns 489,570 shares of the restaurant operator’s stock worth $23,225,000 after purchasing an additional 146,469 shares in the last quarter. Twinbeech Capital LP acquired a new stake in shares of Cheesecake Factory during the 4th quarter valued at about $1,500,000. State of Wyoming grew its stake in shares of Cheesecake Factory by 21.2% in the 4th quarter. State of Wyoming now owns 8,215 shares of the restaurant operator’s stock valued at $390,000 after buying an additional 1,435 shares in the last quarter. Finally, Sapience Investments LLC bought a new stake in shares of Cheesecake Factory in the 4th quarter valued at approximately $1,857,000. Institutional investors and hedge funds 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.