Shake Shack (NYSE:SHAK) Hits New 52-Week High Following Analyst Upgrade

Shake Shack Inc. (NYSE:SHAK) shares reached a new 52-week high during mid-day trading on Monday after Oppenheimer raised their price target on the stock from $122.00 to $135.00. Oppenheimer currently has an outperform rating on the stock. Shake Shack traded as high as $114.44 and last traded at $113.28, with a volume of 61393 shares trading hands. The stock had previously closed at $110.45.

Other equities analysts have also issued research reports about the company. Morgan Stanley cut their price target on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Capital One Financial started coverage on Shake Shack in a research report on Monday, July 29th. They issued an “overweight” rating and a $95.00 price objective for the company. TD Cowen reaffirmed a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Finally, Robert W. Baird upped their price objective on shares of Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $108.50.

Insider Activity

In other news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was 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 in the company, valued at $3,532,299.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $90.39, for a total transaction of $27,478.56. Following the sale, the director now directly owns 3,347 shares in the company, valued at $302,535.33. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction on Monday, August 5th. The stock was 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 owns 37,143 shares of the company’s stock, valued at approximately $3,532,299.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,330 shares of company stock valued at $2,429,690. Company insiders own 9.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SHAK. Marshall Wace LLP increased its position in shares of Shake Shack by 101.2% in the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock valued at $48,990,000 after purchasing an additional 273,822 shares during the last quarter. Armistice Capital LLC raised its stake in Shake Shack by 69.1% in the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after buying an additional 236,950 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Shake Shack by 471.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 255,374 shares of the company’s stock worth $22,984,000 after buying an additional 210,717 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Shake Shack during the 1st quarter worth about $16,365,000. Finally, Renaissance Technologies LLC raised its position in shares of Shake Shack by 41.9% during the 2nd quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after acquiring an additional 129,200 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Shake Shack Price Performance

The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $104.82 and a 200-day moving average of $98.10. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 179.84, a P/E/G ratio of 3.23 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last announced 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 analyst estimates of $314.37 million. During the same period last year, the business earned $0.18 EPS. Shake Shack’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities research analysts predict that Shake Shack Inc. will post 0.74 EPS for the current fiscal year.

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.