Shake Shack (NYSE:SHAK) Trading Down 3% – What’s Next?

Shake Shack Inc. (NYSE:SHAK) shares dropped 3% during trading on Friday . The company traded as low as $106.50 and last traded at $106.57. Approximately 564,400 shares were traded during trading, a decline of 39% from the average daily volume of 923,020 shares. The stock had previously closed at $109.90.

Analyst Upgrades and Downgrades

SHAK has been the subject of a number of analyst reports. Barclays lifted their target price on shares of Shake Shack from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. TD Cowen reissued a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Wedbush reissued a “neutral” rating and issued a $90.00 price target on shares of Shake Shack in a report on Thursday, August 1st. Finally, Capital One Financial assumed coverage on shares of Shake Shack in a report on Monday, July 29th. They issued an “overweight” rating and a $95.00 price target for the company. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Shake Shack has an average rating of “Hold” and a consensus price target of $107.39.

Shake Shack Stock Down 1.9 %

The firm’s 50-day simple moving average is $103.40 and its 200 day simple moving average is $97.64. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06. The stock has a market capitalization of $4.56 billion, a P/E ratio of 196.02, a PEG ratio of 3.24 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The firm had revenue of $316.50 million for the quarter, compared to analysts’ expectations of $314.37 million. During the same period in the previous year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, research analysts expect that Shake Shack Inc. will post 0.73 EPS for the current year.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the transaction, the director now directly owns 470,437 shares in the company, valued at $51,860,974.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were 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 in the company, valued at $302,535.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the transaction, the director now owns 470,437 shares in the company, valued at $51,860,974.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,482 shares of company stock valued at $2,443,382 in the last three months. 9.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SHAK. Allspring Global Investments Holdings LLC acquired a new position in shares of Shake Shack during the 1st quarter worth $25,000. Quest Partners LLC bought a new position in shares of Shake Shack in the second quarter worth about $38,000. Kimelman & Baird LLC acquired a new stake in shares of Shake Shack in the 2nd quarter valued at approximately $45,000. Covestor Ltd increased its position in Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares in the last quarter. Finally, CWM LLC lifted its stake in Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after purchasing an additional 207 shares during the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

About Shake Shack

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.