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

Cheesecake Factory (NASDAQ:CAKE) had its target price upped by equities researchers at Wedbush from $59.00 to $61.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s target price would suggest a potential upside of 12.36% from the company’s current price. Wedbush also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.93 EPS and FY2024 earnings at $3.33 EPS.

Other analysts have also issued reports about the stock. Robert W. Baird increased their price target on shares of Cheesecake Factory from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group raised their target price on shares of Cheesecake Factory from $36.00 to $41.00 and gave the stock a “sell” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group upped their price target on Cheesecake Factory from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Jefferies Financial Group raised their target price on shares of Cheesecake Factory from $49.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Wells Fargo & Company upped their price target on Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cheesecake Factory presently has an average rating of “Hold” and an average target price of $51.33.

Cheesecake Factory Stock Down 2.7 %

Shares of NASDAQ:CAKE opened at $54.29 on Thursday. Cheesecake Factory has a fifty-two week low of $33.05 and a fifty-two week high of $57.32. The firm’s 50-day simple moving average is $50.96 and its 200-day simple moving average is $45.25. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 1.28 and a beta of 1.51. 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 results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. As a group, equities research analysts predict that Cheesecake Factory will post 3.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC acquired a new position in Cheesecake Factory during the 4th quarter valued at about $25,000. Versant Capital Management Inc boosted its stake in Cheesecake Factory by 108.1% during the 4th 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. acquired a new position in Cheesecake Factory during the fourth quarter worth about $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 worth $62,000 after purchasing an additional 1,207 shares during the last quarter. Finally, KBC Group NV grew its position in Cheesecake Factory by 46.9% in the fourth quarter. KBC Group NV now owns 2,321 shares of the restaurant operator’s stock worth $110,000 after buying an additional 741 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

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.