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

Several other research analysts have also commented on the company. Bank of America reissued a “neutral” rating and issued a $46.00 price target (down from $51.00) on shares of Cheesecake Factory in a research report on Thursday, August 1st. Wedbush reduced their price target on Cheesecake Factory from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Deutsche Bank assumed coverage on Cheesecake Factory in a research report on Friday, June 28th. They issued a “hold” rating and a $46.00 price target for the company. JPMorgan Chase & Co. reduced their price target on Cheesecake Factory from $52.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 price target (down from $54.00) on shares of Cheesecake Factory in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Cheesecake Factory presently has a consensus rating of “Hold” and a consensus target price of $49.58.

Shares of CAKE traded up $0.50 during trading hours on Friday, hitting $39.07. The company had a trading volume of 540,657 shares, compared to its average volume of 764,445. The company has a market capitalization of $1.72 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.25 and a beta of 0.45. The company has a current ratio of 0.36, a quick ratio of 0.26 and a debt-to-equity ratio of 1.81. Cheesecake Factory has a one year low of $35.83 and a one year high of $52.91. The company’s fifty day moving average price is $39.87 and its two-hundred day moving average price is $43.77.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The firm had revenue of $602.65 million during the quarter, compared to analyst estimates of $612.16 million. Cheesecake Factory had a return on equity of 21.31% and a net margin of 4.52%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. Analysts forecast that Cheesecake Factory will post 2.62 earnings per share for the current year.

In other Cheesecake Factory news, Director Laurence B. Mindel bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $39.04 per share, for a total transaction of $97,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edie A. Ames bought 750 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $42.18 per share, for a total transaction of $31,635.00. Following the completion of the purchase, the director now owns 3,880 shares in the company, valued at $163,658.40. The disclosure for this purchase can be found here. 8.50% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in CAKE. Advisory Services Network LLC grew its stake in Cheesecake Factory by 379.3% during the 1st quarter. Advisory Services Network LLC now owns 647 shares of the restaurant operator’s stock worth $32,000 after buying an additional 512 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Cheesecake Factory by 8,033.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 732 shares of the restaurant operator’s stock worth $32,000 after buying an additional 723 shares during the last quarter. Prestige Wealth Management Group LLC purchased a new position in Cheesecake Factory during the 2nd quarter worth $69,000. MUFG Securities EMEA plc purchased a new position in Cheesecake Factory during the 2nd quarter worth $120,000. Finally, WINTON GROUP Ltd purchased a new position in Cheesecake Factory during the 2nd quarter worth $219,000.

About Cheesecake Factory

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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