Shake Shack (NYSE:SHAK) Raised to “Overweight” at Barclays

Shake Shack (NYSE:SHAK) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has a $159.00 price target on the stock, up from their previous price target of $125.00. Barclays‘s price target points to a potential upside of 19.89% from the stock’s current price.

Several other brokerages have also commented on SHAK. 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. TD Cowen restated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Finally, Oppenheimer boosted their price target on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $122.59.

Shake Shack Price Performance

NYSE:SHAK opened at $132.62 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The company has a 50-day moving average of $129.82 and a 200-day moving average of $109.73. Shake Shack has a 52 week low of $64.16 and a 52 week high of $139.89. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 780.12, a PEG ratio of 2.83 and a beta of 1.86.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. As a group, equities research analysts anticipate that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other news, Director Daniel Harris Meyer sold 22,691 shares of Shake Shack stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the completion of the sale, the director now owns 437,646 shares in the company, valued at $54,473,797.62. The trade was a 4.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Katherine Irene Fogertey sold 642 shares of the 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 completion of the transaction, the chief financial officer now owns 30,717 shares in the company, valued at $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,333 shares of company stock worth $6,566,330. Insiders own 9.73% of the company’s stock.

Institutional Trading of Shake Shack

Several institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. boosted its position in shares of Shake Shack by 154.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after purchasing an additional 395,311 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Shake Shack during the third quarter worth about $39,677,000. Holocene Advisors LP grew its position in shares of Shake Shack by 68.3% during the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after buying an additional 384,131 shares during the period. Marshall Wace LLP increased its stake 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 acquiring an additional 273,822 shares during the last quarter. Finally, Armistice Capital LLC raised its position in shares of Shake Shack by 69.1% in the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after acquiring an additional 236,950 shares during the period. Institutional investors 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.