The Cheesecake Factory, Inc. (CAKE), is a distributor of cheesecakes and restaurant company based in the United States. The company operates 185 full-service dining restaurants: 165 under The Cheesecake Factory brand, 11 under the Grand Lux Cafe brand and one under the RockSugar Pan Asian Kitchen brand. The Cheesecake Factory also operates two bakery production facilities—in Calabasas, California and Rocky Mount, North Carolina—and licenses two bakery-based menus for other food service operators under The Cheesecake Factory Bakery Cafe marque. Its cheesecakes and other baked goods can also be found in the cafes of many Barnes & Noble stores. David M. Overton, the company's founder, opened the first Cheesecake Factory restaurant in Beverly Hills, California, in 1978. The restaurant established the future chain's pattern of featuring an eclectic menu, large portions, and signature cheesecakes.
Reported after close today (4/27/16) Earnings: EPS $0.68 Revenue $553.7M Estimates: EPS $0.60 Revenue $555.8M
Reported after close today (10/26/16) Earnings: EPS $0.70 Revenue $560M Estimates: EPS $0.61 Revenue $556.15M Up 8.10% after hours so far
Analyst Upgrade/Downgrade Update Brokerage firm: Argus Change: Upgrade Previous Rating: Hold Current Rating: Buy Previous Price Target: N/A Current Price Target: N/A
Analyst Upgrade/Downgrade Update Brokerage firm: Maxim Group Change: Downgrade Previous Rating: Buy Current Rating: Hold Previous Price Target: N/A Current Price Target: $59
I won't be trading this level, but bringing it out for anyone who enjoys this kind of setup. Former resistance that has now acted as support.
When I draw it in myself, it looks more like $49 which makes this level a little more appealing. Might take a shot at half my normal size, I'll consider it Monday, although the risk/reward isn't great considering I see less than 10% upside IMO. Obviously could go higher, but I tend to believe in current highs over potential new highs.