Truist Financial Boosts Shake Shack (NYSE:SHAK) Price Target to $149.00

Shake Shack (NYSE:SHAK) had its target price upped by Truist Financial from $147.00 to $149.00 in a research report released on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research firms have also weighed in on SHAK. JPMorgan Chase & Co. reissued an “underweight” rating and set a $102.00 price target (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a research report on Wednesday. UBS Group lifted their price objective on shares of Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $125.00 to $159.00 in a research report on Tuesday. Finally, TD Cowen reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research report on Wednesday, September 18th. Two equities research 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $122.59.

Shake Shack Stock Up 0.4 %

Shake Shack stock opened at $132.62 on Wednesday. Shake Shack has a 1-year low of $64.16 and a 1-year high of $139.89. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 780.12, a price-to-earnings-growth ratio of 2.83 and a beta of 1.86. The firm’s fifty day moving average price is $129.82 and its two-hundred day moving average price is $109.73. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data 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 net margin of 0.68% and a return on equity of 6.28%. The firm had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. During the same period last year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts predict that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insider Transactions at Shake Shack

In related news, Director Daniel Harris Meyer sold 22,691 shares of the business’s 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 transaction, the director now owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Katherine Irene Fogertey sold 642 shares of the business’s 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 transaction, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,333 shares of company stock worth $6,566,330 over the last quarter. Corporate insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in Shake Shack by 4.3% during the fourth quarter. Nordea Investment Management AB now owns 76,884 shares of the company’s stock valued at $10,049,000 after purchasing an additional 3,186 shares during the last quarter. GAMMA Investing LLC lifted its position in Shake Shack by 56.3% during the fourth quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $96,000 after purchasing an additional 265 shares during the last quarter. Principal Financial Group Inc. lifted its position in Shake Shack by 1.1% during the third quarter. Principal Financial Group Inc. now owns 189,229 shares of the company’s stock valued at $19,530,000 after purchasing an additional 2,043 shares during the last quarter. World Investment Advisors LLC bought a new stake in Shake Shack during the third quarter valued at approximately $249,000. Finally, Neo Ivy Capital Management bought a new stake in Shake Shack during the third quarter valued at approximately $142,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

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.