Zacks Investment Research upgraded shares of Cheesecake Factory (NASDAQ:CAKE) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The brokerage currently has $53.00 price target on the restaurant operator’s stock.

According to Zacks, “Cheesecake Factory’s shares have outperformed the industry over the past three months. Earnings estimates for 2018 has also gone up over the past 60 days, reflecting analysts’ optimism. The company’s differentiated menu, operational distinction and unique ambiance appeal to customers. Further, the company’s aggressive expansion initiatives also bode well and should drive growth. However, a lowered fiscal 2017 outlook due to prevailing challenging restaurant environment calls for caution. Moving ahead, higher labor and pre-openings costs coupled with expenses related to sales initiatives are likely to continue to hurt margins. In addition, underperformance by Grand Lux Cafe raises caution.”

A number of other research firms have also recently commented on CAKE. Barclays decreased their target price on shares of Cheesecake Factory from $46.00 to $43.00 and set an equal weight rating for the company in a research report on Thursday, November 2nd. Wells Fargo & Co decreased their target price on shares of Cheesecake Factory from $46.00 to $43.00 and set a market perform rating for the company in a research report on Tuesday, October 24th. BidaskClub cut shares of Cheesecake Factory from a hold rating to a sell rating in a research report on Thursday, January 18th. Canaccord Genuity decreased their target price on shares of Cheesecake Factory from $50.00 to $48.00 and set a hold rating for the company in a research report on Thursday, November 2nd. Finally, Robert W. Baird reissued a hold rating and set a $46.00 target price on shares of Cheesecake Factory in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. Cheesecake Factory currently has a consensus rating of Hold and a consensus price target of $49.00.

Shares of Cheesecake Factory (CAKE) opened at $44.50 on Tuesday. Cheesecake Factory has a 52-week low of $38.34 and a 52-week high of $67.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.37 and a current ratio of 0.51. The company has a market cap of $2,113.45, a P/E ratio of 16.91, a P/E/G ratio of 1.17 and a beta of 0.33.

In other Cheesecake Factory news, VP Debby R. Zurzolo sold 2,306 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.75, for a total transaction of $103,193.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 8.40% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Tiedemann Wealth Management LLC increased its stake in Cheesecake Factory by 22.9% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 17,347 shares of the restaurant operator’s stock valued at $134,000 after purchasing an additional 3,237 shares in the last quarter. Perennial Advisors LLC increased its stake in Cheesecake Factory by 123.1% during the 4th quarter. Perennial Advisors LLC now owns 2,900 shares of the restaurant operator’s stock valued at $140,000 after purchasing an additional 1,600 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Cheesecake Factory during the 2nd quarter valued at approximately $205,000. M&T Bank Corp increased its stake in Cheesecake Factory by 23.4% during the 2nd quarter. M&T Bank Corp now owns 4,849 shares of the restaurant operator’s stock valued at $244,000 after purchasing an additional 919 shares in the last quarter. Finally, Atria Investments LLC acquired a new position in Cheesecake Factory during the 4th quarter valued at approximately $255,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

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About 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.

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