Shake Shack (NYSE:SHAK) Price Target Raised to $135.00 at Oppenheimer

Shake Shack (NYSE:SHAK) had its price objective lifted by Oppenheimer from $122.00 to $135.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $115.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Bank of America boosted their price target on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. The Goldman Sachs Group boosted their price target on shares of Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Finally, Morgan Stanley reduced their price target on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $109.06.

Shake Shack Stock Down 0.7 %

Shares of Shake Shack stock opened at $121.67 on Monday. 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 has a 50-day moving average of $105.57 and a 200 day moving average of $98.49. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 221.93, a PEG ratio of 3.23 and a beta of 1.83. Shake Shack has a 1 year low of $54.06 and a 1 year high of $130.20.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 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 2.23% and a return on equity of 5.63%. Shake Shack’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS. As a group, sell-side analysts anticipate that Shake Shack will post 0.74 earnings per share for the current fiscal year.

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction 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 sale, the director now directly owns 460,337 shares in the company, valued at approximately $50,673,896.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the sale, the chief financial officer now owns 36,180 shares of the company’s stock, valued at approximately $3,760,187.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,367 shares of company stock valued at $2,337,213. 9.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Shake Shack

Several large investors have recently modified their holdings of SHAK. Marshall Wace LLP lifted its holdings in Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after acquiring an additional 273,822 shares during the last quarter. Armistice Capital LLC lifted its holdings in Shake Shack by 69.1% in the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after acquiring an additional 236,950 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Shake Shack by 471.9% in the second quarter. Point72 Asset Management L.P. now owns 255,374 shares of the company’s stock worth $22,984,000 after acquiring an additional 210,717 shares during the last quarter. Jennison Associates LLC bought a new position in Shake Shack in the first quarter worth about $16,365,000. Finally, Renaissance Technologies LLC lifted its holdings in Shake Shack by 41.9% in the second quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after acquiring an additional 129,200 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.