Wells Fargo & Co. Analysts Begin Coverage on Cheesecake Factory (CAKE)
Investment analysts at Wells Fargo & Co. (NYSE: WFC) assumed coverage on shares of Cheesecake Factory (NASDAQ: CAKE) in a note issued to investors on Friday. The firm set a “market perform” rating on the stock.
Shares of Cheesecake Factory traded down 1.48% during mid-day trading on Friday, hitting $31.94. Cheesecake Factory has a one year low of $23.65 and a one year high of $34.07. The company has a market cap of $1.720 billion and a P/E ratio of 19.36.
Cheesecake Factory last issued its quarterly earnings data on Wednesday, April 25th. The company reported $0.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.36 by $0.01. Cheesecake Factory’s revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that Cheesecake Factory will post $0.47 earnings per share next quarter.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse (NYSE: CS) raised their EPS on shares of Cheesecake Factory in a research note to investors on Thursday, April 26th. They now have a “neutral” rating and a $32.00 price target on the stock. Separately, analysts at Jefferies Group (NYSE: JEF) reiterated a “hold” rating on shares of Cheesecake Factory in a research note to investors on Thursday, April 26th. They now have a $33.00 price target on the stock. Finally, analysts at Raymond James (NYSE: RJF) upgraded shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, April 26th.
The Cheesecake Factory Incorporated operates in the restaurant industry. As of February 26, 2010, the Company operated 161 upscale, casual, full-service dining restaurants: 147 under The Cheesecake Factory mark; 13 under the Grand Lux Cafe mark, and one under the RockSugar Pan Asian Kitchen mark.