Shake Shack (NYSE:SHAK - Get Free Report) had its price target raised by equities researchers at Truist Financial from $144.00 to $147.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective indicates a potential upside of 16.63% from the stock's current price.
Several other analysts have also commented on SHAK. JPMorgan Chase & Co. reissued an "underweight" rating and set a $102.00 price target (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Oppenheimer increased their price target on Shake Shack from $122.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Barclays boosted their price target on Shake Shack from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $115.00 price objective on shares of Shake Shack in a report on Wednesday, August 28th. Finally, TD Cowen reiterated a "buy" rating and issued a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $113.12.
Read Our Latest Analysis on Shake Shack
Shares of SHAK traded up $0.14 during midday trading on Thursday, hitting $126.04. The stock had a trading volume of 92,848 shares, compared to its average volume of 921,445. The stock's 50 day moving average is $123.29 and its 200 day moving average is $105.45. Shake Shack has a 1 year low of $64.16 and a 1 year high of $139.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The firm has a market cap of $5.35 billion, a PE ratio of 741.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85.
Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. During the same period last year, the business posted $0.17 EPS. Shake Shack's quarterly revenue was up 14.7% on a year-over-year basis. As a group, analysts forecast that Shake Shack will post 0.82 EPS for the current fiscal year.
In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the company's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $110.08, for a total value of $1,100,800.00. Following the sale, the director now owns 460,337 shares of the company's stock, valued at $50,673,896.96. This represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the transaction, the chief financial officer now directly owns 36,180 shares of the company's stock, valued at $3,760,187.40. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,754 shares of company stock worth $7,711,497 over the last 90 days. 9.73% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of SHAK. Xponance Inc. grew its stake in shares of Shake Shack by 4.5% in the second quarter. Xponance Inc. now owns 2,395 shares of the company's stock valued at $216,000 after buying an additional 103 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Shake Shack by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company's stock worth $3,241,000 after acquiring an additional 139 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of Shake Shack by 1.1% in the second quarter. Brighton Jones LLC now owns 17,909 shares of the company's stock worth $1,612,000 after acquiring an additional 187 shares in the last quarter. Arizona State Retirement System boosted its holdings in Shake Shack by 1.9% in the second quarter. Arizona State Retirement System now owns 10,500 shares of the company's stock valued at $945,000 after purchasing an additional 196 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its stake in Shake Shack by 1.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company's stock valued at $1,372,000 after purchasing an additional 199 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company's stock.
Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.
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