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

Cheesecake Factory (NASDAQ:CAKE) had its target price increased by stock analysts at Mizuho from $65.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Mizuho’s price objective indicates a potential upside of 13.69% from the company’s previous close.

A number of other research firms also recently commented on CAKE. Weiss Ratings downgraded Cheesecake Factory from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 15th. Argus cut their price target on shares of Cheesecake Factory from $72.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Citigroup boosted their price objective on shares of Cheesecake Factory from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group set a $70.00 price objective on shares of Cheesecake Factory and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Robert W. Baird set a $57.00 target price on shares of Cheesecake Factory in a report on Wednesday, October 29th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.12.

Cheesecake Factory Price Performance

CAKE opened at $61.57 on Thursday. Cheesecake Factory has a 1 year low of $42.69 and a 1 year high of $69.70. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.47 and a current ratio of 0.55. The company’s 50 day simple moving average is $55.21 and its 200 day simple moving average is $55.18. The stock has a market capitalization of $3.07 billion, a PE ratio of 18.66, a P/E/G ratio of 1.53 and a beta of 1.02.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Advisory Services LLC purchased a new stake in Cheesecake Factory during the 2nd quarter worth approximately $28,000. Salomon & Ludwin LLC boosted its stake in shares of Cheesecake Factory by 226.5% during the 4th quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator’s stock valued at $33,000 after buying an additional 419 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Cheesecake Factory by 661.7% during the fourth quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator’s stock worth $36,000 after buying an additional 622 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Cheesecake Factory by 39.2% in the second quarter. Parkside Financial Bank & Trust now owns 632 shares of the restaurant operator’s stock worth $40,000 after buying an additional 178 shares during the last quarter. Finally, Root Financial Partners LLC increased its stake in shares of Cheesecake Factory by 973.2% in the fourth quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator’s stock worth $44,000 after buying an additional 798 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

About Cheesecake Factory

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.