Cheesecake Factory (CAKE) was upgraded to a Hold Rating at J.P. Morgan

In a report released yesterday, John Ivankoe from J.P. Morgan upgraded Cheesecake Factory to a Hold, with a price target of $68.00. The company’s shares closed yesterday at $59.70.

Meet Samuel – Your Personal Investing Prophet

• Start a conversation with TipRanks’ trusted, data-backed investment intelligence
• Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds

Ivankoe covers the Consumer Cyclical sector, focusing on stocks such as Texas Roadhouse, Domino’s Pizza, and Bloomin’ Brands. According to TipRanks, Ivankoe has an average return of 11.2% and a 61.71% success rate on recommended stocks.

Currently, the analyst consensus on Cheesecake Factory is a Hold with an average price target of $65.77.

Based on Cheesecake Factory’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $978.83 million and a net profit of $49.55 million. In comparison, last year the company earned a revenue of $927.2 million and had a net profit of $32.94 million

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CAKE in relation to earlier this year. Earlier this month, David Overton, the CHAIRMAN AND C.E.O of CAKE sold 104,000.00 shares for a total of $6,346,080.00.