The Cheesecake Factory Incorporated (NASDAQ:CAKE) Rating Reiterated by Raymond James Financial, Inc.

The Cheesecake Factory Incorporated (NASDAQ:CAKE)‘s stock had its “market perform” rating reissued by stock analysts at Raymond James Financial, Inc. in a research report issued on Monday, July 24th.

Several other research firms have also commented on CAKE. Zacks Investment Research upgraded shares of The Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Tuesday, April 4th. Telsey Advisory Group lowered their price objective on shares of The Cheesecake Factory from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, June 14th. Canaccord Genuity reiterated a “hold” rating and set a $60.00 price objective on shares of The Cheesecake Factory in a research report on Friday, June 16th. Nomura began coverage on shares of The Cheesecake Factory in a research report on Wednesday, July 12th. They set a “neutral” rating and a $50.00 price objective for the company. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $55.00 price objective (down previously from $61.50) on shares of The Cheesecake Factory in a research report on Wednesday, June 14th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.78.

The Cheesecake Factory (NASDAQ CAKE) opened at 42.88 on Monday. The company has a 50-day moving average of $47.71 and a 200-day moving average of $56.99. The stock has a market cap of $1.97 billion, a PE ratio of 15.00 and a beta of 0.31. The Cheesecake Factory has a 12 month low of $42.23 and a 12 month high of $67.14.

The Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.02. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The firm had revenue of $569.87 million during the quarter, compared to analyst estimates of $573.12 million. During the same quarter in the prior year, the business earned $0.78 earnings per share. The Cheesecake Factory’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts forecast that The Cheesecake Factory will post $2.67 EPS for the current fiscal year.

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In related news, VP Debby R. Zurzolo sold 6,424 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $59.09, for a total value of $379,594.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Waratah Capital Advisors Ltd. bought a new position in The Cheesecake Factory during the first quarter valued at approximately $4,628,000. Nordea Investment Management AB increased its position in The Cheesecake Factory by 15.5% in the first quarter. Nordea Investment Management AB now owns 25,505 shares of the restaurant operator’s stock valued at $1,616,000 after buying an additional 3,419 shares in the last quarter. Hendershot Investments Inc. increased its position in The Cheesecake Factory by 4.3% in the second quarter. Hendershot Investments Inc. now owns 69,805 shares of the restaurant operator’s stock valued at $3,511,000 after buying an additional 2,865 shares in the last quarter. Marshall Wace North America L.P. bought a new position in The Cheesecake Factory during the first quarter valued at approximately $1,644,000. Finally, PNC Financial Services Group Inc. increased its position in The Cheesecake Factory by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,420 shares of the restaurant operator’s stock valued at $218,000 after buying an additional 109 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

Analyst Recommendations for The Cheesecake Factory (NASDAQ:CAKE)

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