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

Shake Shack (NYSE:SHAK) had its price objective increased by UBS Group from $130.00 to $140.00 in a research report sent to investors on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. reiterated 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. TD Cowen reaffirmed a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research report on Wednesday, September 18th. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $125.00 to $159.00 in a research note on Tuesday. Truist Financial boosted their price target on Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Oppenheimer increased their price objective on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $120.50.

Shake Shack Price Performance

NYSE:SHAK opened at $132.49 on Tuesday. Shake Shack has a 12-month low of $64.16 and a 12-month high of $139.89. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 779.35, a P/E/G ratio of 2.83 and a beta of 1.86. The stock’s 50 day moving average price is $129.61 and its two-hundred day moving average price is $109.57. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating 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 business had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. During the same quarter in the prior year, the business earned $0.17 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts anticipate that Shake Shack will post 0.82 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the transaction, the director now owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. This represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares in the company, valued at $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,333 shares of company stock worth $6,566,330. Corporate insiders own 9.73% of the company’s stock.

Institutional Trading of Shake Shack

A number of hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its holdings in shares of Shake Shack by 4.3% during the fourth quarter. Nordea Investment Management AB now owns 76,884 shares of the company’s stock worth $10,049,000 after purchasing an additional 3,186 shares during the last quarter. GAMMA Investing LLC boosted its position in Shake Shack by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $96,000 after buying an additional 265 shares during the period. Principal Financial Group Inc. grew its holdings in Shake Shack by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 189,229 shares of the company’s stock worth $19,530,000 after acquiring an additional 2,043 shares during the last quarter. World Investment Advisors LLC acquired a new position in Shake Shack in the 3rd quarter valued at approximately $249,000. Finally, Neo Ivy Capital Management bought a new position in shares of Shake Shack during the third quarter valued at $142,000. 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.