Shake Shack (NYSE:SHAK) PT Raised to $115.00 at Barclays

Shake Shack (NYSE:SHAK) had its target price boosted by equities researchers at Barclays from $110.00 to $115.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 5.96% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial reissued a “buy” rating and issued a $127.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. Wedbush restated a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a research report on Thursday, August 1st. Morgan Stanley dropped their price target on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $115.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Finally, Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $121.00 to $114.00 in a report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $107.67.

Shake Shack Stock Down 0.2 %

Shake Shack stock opened at $108.53 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.06 and a quick ratio of 2.03. The company’s 50-day moving average is $104.76 and its 200-day moving average is $97.97. The firm has a market capitalization of $4.61 billion, a PE ratio of 175.05, a P/E/G ratio of 3.25 and a beta of 1.83. Shake Shack has a fifty-two week low of $54.06 and a fifty-two week high of $113.50.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $316.50 million for the quarter, compared to the consensus estimate of $314.37 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. Sell-side analysts anticipate that Shake Shack will post 0.74 earnings per share for the current year.

Insider Buying and Selling

In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $90.39, for a total value of $27,478.56. Following the sale, the director now owns 3,347 shares in the company, valued at $302,535.33. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00. Following the completion of the transaction, the director now owns 460,337 shares of the company’s stock, valued at $50,673,896.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $90.39, for a total transaction of $27,478.56. Following the sale, the director now owns 3,347 shares in the company, valued at approximately $302,535.33. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,330 shares of company stock worth $2,429,690 in the last three months. 9.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Shake Shack

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its holdings in shares of Shake Shack by 2.1% during the third quarter. Louisiana State Employees Retirement System now owns 19,300 shares of the company’s stock worth $1,992,000 after purchasing an additional 400 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Shake Shack by 268.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 104,358 shares of the company’s stock worth $10,771,000 after buying an additional 75,997 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shake Shack during the 3rd quarter worth about $41,000. Private Advisor Group LLC bought a new stake in shares of Shake Shack in the 3rd quarter valued at about $279,000. Finally, Everence Capital Management Inc. increased its stake in shares of Shake Shack by 26.8% in the third quarter. Everence Capital Management Inc. now owns 6,570 shares of the company’s stock valued at $678,000 after buying an additional 1,390 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.