Shake Shack (NYSE:SHAK) Price Target Raised to $128.00

Shake Shack (NYSE:SHAK) had its price objective raised by research analysts at Stifel Nicolaus from $115.00 to $128.00 in a report released on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price suggests a potential downside of 0.80% from the company’s current price.

A number of other research analysts also recently commented on the company. UBS Group boosted their target price on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday. Oppenheimer boosted their price target on Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $125.00 to $159.00 in a report on Tuesday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 target price (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Finally, Truist Financial raised their price target on shares of Shake Shack from $147.00 to $149.00 and gave the company a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $122.89.

Shake Shack Trading Down 2.8 %

SHAK stock traded down $3.78 during mid-day trading on Friday, reaching $129.03. 344,474 shares of the stock traded hands, compared to its average volume of 943,953. Shake Shack has a 52-week low of $64.16 and a 52-week high of $139.89. The stock’s fifty day moving average is $130.04 and its 200-day moving average is $109.89. The company has a market cap of $5.48 billion, a P/E ratio of 759.00, a P/E/G ratio of 2.83 and a beta of 1.86. 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 announced its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $316.92 million for the quarter, compared to the consensus estimate 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 was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS. As a group, sell-side analysts expect that Shake Shack will post 0.82 earnings per share for the current year.

Insider Activity

In other Shake Shack news, Director Daniel Harris Meyer sold 22,691 shares of Shake Shack stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the transaction, the director now owns 437,646 shares in the company, valued at approximately $54,473,797.62. The trade was a 4.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the sale, the chief financial officer now owns 30,717 shares in the company, valued at $4,223,894.67. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,333 shares of company stock worth $6,566,330. Corporate insiders own 9.73% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Institutional investors and hedge funds have recently made changes to their positions in the company. Quest Partners LLC acquired a new position in Shake Shack in the second quarter valued at approximately $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Shake Shack during the 3rd quarter worth $41,000. Kimelman & Baird LLC bought a new stake in shares of Shake Shack during the 2nd quarter valued at $45,000. Covestor Ltd lifted its stake in shares of Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after purchasing an additional 205 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Shake Shack by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $96,000 after purchasing an additional 265 shares during the last quarter. 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.