Cheesecake Factory saw an improvement in its IBD SmartSelect Composite Rating Thursday, from 94 to 96.
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The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength.
Cheesecake Factory has now climbed above a proper buy zone after clearing the 56.26 buy point in a cup with handle.
The stock sports a 91 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 91% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
The company posted a 6% rise in earnings for Q2. Revenue growth rose 6%, up from 4% in the prior quarter. That marks one quarter of increasing revenue gains.
Cheesecake Factory earns the No. 3 rank among its peers in the Retail-Restaurants industry group. Brinker International is the top-ranked stock within the group.
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