CFRA downgrades Cheesecake Factory (CAKE) to a Hold
Cheesecake Factory received a Hold rating and price target from CFRA analyst yesterday.
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In a report released on June 15, Northcoast Research also downgraded the stock to a Hold with a $76.00 price target.
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 37 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, Alexander Cappello, a Director at CAKE sold 2,490.00 shares for a total of $161,601.00.
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