Shake Shack (NYSE:SHAK) Price Target Raised to $155.00

Shake Shack (NYSE:SHAK) had its target price increased by Oppenheimer from $145.00 to $155.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

SHAK has been the topic of several other reports. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price target (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $159.00 in a report on Tuesday. Truist Financial raised their price target on shares of Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, TD Cowen reissued a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shake Shack currently has an average rating of “Hold” and an average target price of $122.59.

Shake Shack Trading Up 0.4 %

SHAK opened at $132.62 on Tuesday. The company’s 50 day moving average is $129.82 and its 200-day moving average is $109.73. The company has a market cap of $5.63 billion, a P/E ratio of 780.12, a PEG ratio of 2.83 and a beta of 1.86. Shake Shack has a 1-year low of $64.16 and a 1-year high of $139.89. 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 posted its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, topping 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 analysts’ expectations of $316.03 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. Equities research analysts predict that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the sale, the director now owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. This trade represents a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Katherine Irene Fogertey sold 642 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 30,717 shares in the company, valued at $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,333 shares of company stock valued at $6,566,330 over the last ninety days. 9.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quest Partners LLC bought a new position in Shake Shack in the 2nd quarter valued at about $38,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Shake Shack in the third quarter worth approximately $41,000. Kimelman & Baird LLC bought a new position in shares of Shake Shack in the second quarter valued at approximately $45,000. Covestor Ltd boosted its position in shares of Shake Shack by 41.6% during the third quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after buying an additional 205 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Shake Shack by 56.3% during the fourth quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $96,000 after buying an additional 265 shares in the last quarter. 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.