Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $52.00

Cheesecake Factory (NASDAQ:CAKE) had its price target increased by equities research analysts at Wedbush from $48.00 to $52.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s target price points to a potential upside of 21.33% from the company’s current price. Wedbush also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.87 EPS and Q4 2025 earnings at $1.04 EPS.

Several other equities analysts also recently weighed in on the stock. Citigroup lifted their price target on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, October 4th. Stephens reissued an “overweight” rating and set a $50.00 target price on shares of Cheesecake Factory in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. cut their target price on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, August 6th. Barclays increased their price objective on shares of Cheesecake Factory from $35.00 to $38.00 and gave the company an “underweight” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird raised their price objective on Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $42.92.

Cheesecake Factory Stock Performance

Shares of NASDAQ CAKE opened at $42.86 on Wednesday. The firm has a 50 day moving average of $39.85 and a 200 day moving average of $38.30. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. Cheesecake Factory has a 12-month low of $29.27 and a 12-month high of $43.81. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. The business had revenue of $904.04 million during the quarter, compared to analyst estimates of $909.19 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. Cheesecake Factory’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, research analysts anticipate that Cheesecake Factory will post 3.21 earnings per share for the current year.

Hedge Funds Weigh In On Cheesecake Factory

Hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its position in shares of Cheesecake Factory by 2.4% during the third quarter. Harbor Capital Advisors Inc. now owns 23,110 shares of the restaurant operator’s stock valued at $937,000 after buying an additional 532 shares during the period. Oak Harvest Investment Services bought a new position in Cheesecake Factory in the 3rd quarter valued at $345,000. New York State Teachers Retirement System increased its stake in Cheesecake Factory by 5.5% in the third quarter. New York State Teachers Retirement System now owns 77,660 shares of the restaurant operator’s stock worth $3,149,000 after purchasing an additional 4,053 shares during the period. Foundations Investment Advisors LLC bought a new stake in shares of Cheesecake Factory during the third quarter worth $227,000. Finally, Inspire Investing LLC boosted its stake in shares of Cheesecake Factory by 11.4% during the third quarter. Inspire Investing LLC now owns 11,343 shares of the restaurant operator’s stock valued at $460,000 after purchasing an additional 1,158 shares during the period. 94.48% of the stock is currently owned by institutional investors.

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.