Shake Shack (NYSE:SHAK) Receives “Buy” Rating from TD Cowen

Shake Shack (NYSE:SHAK)‘s stock had its “buy” rating reissued by equities researchers at TD Cowen in a note issued to investors on Wednesday, Benzinga reports. They presently have a $125.00 price objective on the stock. TD Cowen’s target price suggests a potential upside of 21.93% from the stock’s previous close.

Several other equities analysts have also commented on SHAK. JPMorgan Chase & Co. increased their target price on Shake Shack from $102.00 to $105.00 and gave the company an “underweight” rating in a report on Monday, June 3rd. Barclays raised their price objective on Shake Shack from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $115.00 price objective on shares of Shake Shack in a report on Wednesday, August 28th. The Goldman Sachs Group raised their price objective on Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Morgan Stanley dropped their price objective on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $107.56.

Shake Shack Stock Up 0.7 %

Shake Shack stock opened at $102.52 on Wednesday. Shake Shack has a twelve month low of $52.79 and a twelve month high of $111.29. The stock’s fifty day simple moving average is $96.01 and its 200-day simple moving average is $97.31. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $4.34 billion, a P/E ratio of 186.40, a P/E/G ratio of 3.02 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $316.50 million for the quarter, compared to analyst estimates of $314.37 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. Shake Shack’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. As a group, equities analysts expect that Shake Shack will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.10, for a total transaction of $30,527.10. Following the completion of the transaction, the chief financial officer now directly owns 37,143 shares of the company’s stock, valued at approximately $3,532,299.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.10, for a total transaction of $30,527.10. Following the completion of the transaction, the chief financial officer now directly owns 37,143 shares of the company’s stock, valued at approximately $3,532,299.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $90.39, for a total transaction of $27,478.56. Following the transaction, the director now directly owns 3,347 shares of the company’s stock, valued at $302,535.33. The disclosure for this sale can be found here. In the last three months, insiders sold 12,213 shares of company stock worth $1,311,175. Company insiders own 9.73% of the company’s stock.

Institutional Trading of Shake Shack

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in Shake Shack in the 1st quarter worth approximately $25,000. Quest Partners LLC purchased a new stake in Shake Shack in the 2nd quarter worth approximately $38,000. Kimelman & Baird LLC purchased a new stake in shares of Shake Shack during the 2nd quarter valued at $45,000. Covestor Ltd grew its stake in shares of Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after buying an additional 643 shares during the period. Finally, CWM LLC grew its stake in shares of Shake Shack by 24.7% during the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after buying an additional 207 shares during the period. 86.07% of the stock is owned by hedge funds and other institutional investors.

Shake Shack Company Profile

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.