Maxim Group analyst Stephen Anderson maintained a Buy rating on Cheesecake Factory (CAKE) today and set a price target of $55. The company’s shares closed yesterday at $46.88.
Anderson said:
“We maintain our Buy rating and $55 price target on The Cheesecake Factory (CAKE) ahead of the release of 4Q18 (December) results on Wednesday, February 20. We expect CAKE to post 4Q18 (December) EPS of $0.63 vs. $0.62 consensus, on a blended comp of +1.5% vs. +0.8% consensus. We model a 14% jump in EPS to $2.79, vs. $2.67 consensus as we expect another year of 1.5%-2.0% comp growth vs. +1.3% consensus and easier y/y cost comparisons. We believe the acquisition of the remainder of its minority-owned North Italia concept, which we expect will occur in 2H19, will provide a potent catalyst.”
According to TipRanks.com, Anderson is a 5-star analyst with an average return of 11.0% and a 68.5% success rate. Anderson covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Good Times Restaurants Inc, and Dine Brands Global Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cheesecake Factory with a $49.38 average price target.
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Based on Cheesecake Factory’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $28.48 million. In comparison, last year the company had a net profit of $57.74 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is neutral on the stock.
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Cheesecake Factory, Inc. engages in the operation of chain restaurants. Its menu offering includes appetizers, pizza, seafood, steaks, chicken, burgers, small plates, pastas, salads, sandwiches, omelettes, and desserts. The company was founded by David M. Overton, Oscar Overton, and Evelyn Overton in 1972 and is headquartered in Calabasas Hills, CA.
