Barclays Issues Positive Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its target price raised by Barclays from $115.00 to $125.00 in a research report sent to investors on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Robert W. Baird lifted their price objective on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Truist Financial reiterated a “buy” rating and set a $127.00 price objective on shares of Shake Shack in a report on Wednesday, August 28th. The Goldman Sachs Group lifted their target price on Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Piper Sandler lowered Shake Shack from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $121.00 to $114.00 in a research report on Monday, August 19th. Finally, TD Cowen reissued a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $110.00.

Shake Shack Price Performance

Shares of SHAK opened at $124.10 on Thursday. The company has a current ratio of 2.01, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51. Shake Shack has a 1 year low of $54.06 and a 1 year high of $130.20. The stock has a market cap of $5.27 billion, a P/E ratio of 730.00, a price-to-earnings-growth ratio of 3.35 and a beta of 1.81. The stock’s 50-day moving average price is $106.17 and its two-hundred day moving average price is $98.85.

Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The firm had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. During the same quarter last year, the business earned $0.17 earnings per share. The company’s revenue was up 14.7% compared to the same quarter last year. On average, equities analysts predict that Shake Shack will post 0.79 earnings per share for the current year.

Insider Transactions at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total transaction of $31,640.97. Following the completion of the transaction, the chief financial officer now directly owns 36,822 shares in the company, valued at approximately $3,629,544.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total value of $1,102,400.00. Following the completion of the sale, 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 SEC, which is available through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total value of $31,640.97. Following the completion of the sale, the chief financial officer now owns 36,822 shares of the company’s stock, valued at $3,629,544.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,433 shares of company stock worth $5,103,556. 9.73% of the stock is owned by company insiders.

Institutional Trading of Shake Shack

Institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its position in shares of Shake Shack by 303.3% during the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock valued at $1,460,000 after acquiring an additional 12,487 shares during the period. Virtu Financial LLC bought a new stake in shares of Shake Shack during the 1st quarter valued at $653,000. Janney Montgomery Scott LLC bought a new stake in shares of Shake Shack during the 1st quarter valued at $853,000. Jennison Associates LLC bought a new stake in shares of Shake Shack during the 1st quarter valued at $16,365,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Shake Shack by 20.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 37,535 shares of the company’s stock valued at $3,903,000 after acquiring an additional 6,411 shares during the period. 86.07% of the stock is currently owned by 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.