Cheesecake Factory (NASDAQ:CAKE) Hits New 12-Month Low After Analyst Downgrade

0

Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) hit a fresh 52-week low in Friday’s midday session after Morgan Stanley lowered its price target on the stock from $43.00 to 38.00 $. Morgan Stanley currently has an underweight rating on the stock. Cheesecake Factory traded as low as $36.41 and last traded at $37.51, with volume at 999,269 shares. The stock previously closed at $38.27.

CAKE has been the subject of several other reports. Credit Suisse Group raised its price target on Cheesecake Factory from $52.00 to $62.00 and gave the stock a “neutral” rating in a Thursday, Nov. 4, report. Deutsche Bank Aktiengesellschaft lowered its price target on Cheesecake Factory from $50.00 to $47.00 and set a “hold” rating on the stock in a Thursday, Nov. 4, report. Wells Fargo & Company lowered its price target on Cheesecake Factory from $59.00 to $55.00 and set an “overweight” rating on the stock in a Thursday, Nov. 4, report. Piper Sandler downgraded shares of Cheesecake Factory from an “overweight” rating to a “neutral” rating and lowered its price target for the company from $65.00 to $44.00 in a Monday 3 research report. January. Finally, Jefferies Financial Group moved shares of Cheesecake Factory from a “hold” rating to a “buy” rating and raised its price target for the company from $55.00 to $60.00 in a report of research from Friday, September 24. Two research analysts gave the stock a sell rating, seven gave the company a hold rating and five gave the company a buy rating. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $50.96.

(A d)

This guide will help you identify and execute an options trading strategy that fits your specific needs and risk profile.

Take your trading to the next level with the Options Strategy Guide.

Separately, director Edie A. Ames purchased 1,650 shares of the company in a trade on Wednesday, November 10. The shares were purchased at an average price of $45.12 per share, with a total value of $74,448.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. 8.70% of the shares are held by insiders.

Several institutional investors have recently bought and sold shares of CAKE. Amundi Pioneer Asset Management Inc. increased its position in Cheesecake Factory shares by 84.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 45,408 shares of the restaurant owner worth $2,221,000 after acquiring an additional 20,815 shares during the period. Teacher Retirement System of Texas increased its position in Cheesecake Factory shares by 17.7% during the second quarter. Teacher Retirement System of Texas now owns 5,645 shares of the restaurateur worth $306,000 after acquiring 847 additional shares during the period. American Century Companies Inc. increased its position in Cheesecake Factory shares by 225.9% during the second quarter. American Century Companies Inc. now owns 12,212 shares of the restaurateur worth $662,000 after acquiring 8,465 additional shares during the period. HighTower Advisors LLC increased its position in shares of Cheesecake Factory by 6.6% during the second quarter. HighTower Advisors LLC now owns 27,255 shares of the restaurateur worth $1,481,000 after acquiring 1,697 additional shares during the period. Finally, Citigroup Inc. increased its stake in shares of Cheesecake Factory by 80.0% during the second quarter. Citigroup Inc. now owns 57,136 shares of the restaurateur worth $3,096,000 after purchasing an additional 25,392 shares last quarter. 76.60% of the shares are currently held by institutional investors and hedge funds.

The company has a debt ratio of 1.45, a current ratio of 0.56 and a quick ratio of 0.48. The company’s 50-day moving average is $40.68 and its 200-day moving average is $44.38. The stock has a market capitalization of $1.96 billion, a price/earnings ratio of 294.41, a P/E/G ratio of 1.41 and a beta of 1.58.

Cheesecake Factory Inc (NASDAQ:CAKE) last reported results on Wednesday, November 3. The restaurateur reported EPS of $0.65 for the quarter, missing analyst consensus estimates of $0.70 per ($0.05). The company posted revenue of $754.50 million for the quarter, versus analyst estimates of $763.45 million. Cheesecake Factory had a return on equity of 25.01% and a net margin of 1.40%. The company’s revenue for the quarter increased 45.7% year over year. During the same quarter of the previous year, the company posted EPS ($0.33). As a group, analysts expect The Cheesecake Factory Incorporated to post earnings per share of 2.23 for the current year.

Company Profile Cheesecake Factory (NASDAQ: CAKE)

Cheesecake Factory, Inc is engaged in the operation of restaurant chains. It operates through The Cheesecake Factory, North Italia, Other FRC and Other segments. The Cheesecake Factory segment offers entrees, pizzas, seafood, steaks, chicken, burgers, small plates, pastas, salads, sandwiches and omelettes, as well as a selection of non-food items. gluten.

Feature article: What is an overbought condition?

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Cheesecake Factory right now?

Before you consider Cheesecake Factory, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Cheesecake Factory wasn’t on the list.

While Cheesecake Factory currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Share.

Comments are closed.