Shake Shack (NYSE:SHAK) Upgraded at Gordon Haskett

Shake Shack (NYSE:SHAK) was upgraded by equities researchers at Gordon Haskett from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Marketbeat reports. The brokerage currently has a $154.00 price objective on the stock. Gordon Haskett’s target price points to a potential upside of 16.12% from the company’s current price.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Truist Financial increased their price target on Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. TD Cowen reaffirmed a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a research report on Wednesday, September 18th. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $159.00 in a research report on Tuesday. Finally, Oppenheimer lifted their target price on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Shake Shack currently has a consensus rating of “Hold” and an average target price of $122.59.

Shake Shack Price Performance

NYSE:SHAK opened at $132.62 on Wednesday. The stock has a market capitalization of $5.63 billion, a PE ratio of 780.12, a P/E/G 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 firm has a fifty day simple moving average of $129.82 and a 200 day simple moving average of $109.73. 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 quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $316.92 million during 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 quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. On average, research analysts expect that Shake Shack will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the transaction, the chief financial officer now directly owns 30,717 shares in the company, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the company’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 transaction of $3,653,700.00. Following the sale, the director now directly 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 position. The disclosure for this sale can be found here. Insiders sold 53,333 shares of company stock valued at $6,566,330 in the last three months. Corporate insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mowery & Schoenfeld Wealth Management LLC bought a new position in Shake Shack in the 3rd quarter valued at approximately $41,000. Quest Partners LLC acquired a new position in shares of Shake Shack during the second quarter worth $38,000. Kimelman & Baird LLC bought a new position in shares of Shake Shack in 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 acquiring an additional 205 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Shake Shack by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $96,000 after acquiring an additional 265 shares during the last quarter. 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.