Shake Shack (NYSE:SHAK) Price Target Lowered to $105.00 at JPMorgan Chase & Co.

Shake Shack (NYSE:SHAK) had its target price reduced by JPMorgan Chase & Co. from $107.00 to $105.00 in a report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other research analysts have also issued reports on SHAK. UBS Group increased their target price on Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research report on Wednesday, January 8th. Truist Financial upped their target price on shares of Shake Shack from $143.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $159.00 in a research report on Tuesday, January 7th. Finally, Oppenheimer upped their price objective on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $125.67.

Shake Shack Stock Performance

Shares of SHAK stock opened at $90.67 on Thursday. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 394.20 and a beta of 1.89. The stock has a fifty day moving average of $108.54 and a 200 day moving average of $115.23. Shake Shack has a 52 week low of $77.50 and a 52 week high of $139.89. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, February 20th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The firm had revenue of $328.68 million during the quarter, compared to analysts’ expectations of $329.02 million. As a group, research analysts expect that Shake Shack will post 1.26 earnings per share for the current year.

Hedge Funds Weigh In On Shake Shack

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in Shake Shack by 47.5% during the third quarter. Victory Capital Management Inc. now owns 12,977 shares of the company’s stock valued at $1,339,000 after purchasing an additional 4,181 shares during the period. KBC Group NV raised its stake in Shake Shack by 24.1% during the 3rd quarter. KBC Group NV now owns 1,206 shares of the company’s stock valued at $124,000 after buying an additional 234 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Shake Shack by 2.5% during the 3rd quarter. Natixis Advisors LLC now owns 12,335 shares of the company’s stock valued at $1,273,000 after buying an additional 296 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Shake Shack by 0.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock worth $3,241,000 after buying an additional 139 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in shares of Shake Shack by 76.1% in the third quarter. Quest Partners LLC now owns 752 shares of the company’s stock worth $78,000 after acquiring an additional 325 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.