Shake Shack (NYSE:SHAK) Price Target Raised to $128.00

Shake Shack (NYSE:SHAK) had its target price upped by Stifel Nicolaus from $115.00 to $128.00 in a research report report published on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also recently issued reports on SHAK. TD Cowen reiterated a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Oppenheimer upped their price objective on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reiterated an “underweight” rating and set 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 upped their price objective on Shake Shack from $147.00 to $149.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Gordon Haskett upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $122.89.

Shake Shack Trading Down 3.2 %

NYSE SHAK opened at $128.61 on Friday. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 756.53, a PEG ratio of 2.83 and a beta of 1.86. The stock’s 50 day moving average price is $130.13 and its two-hundred day moving average price is $110.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. Shake Shack has a 52 week low of $64.16 and a 52 week high of $139.89.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. As a group, analysts anticipate that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insider Transactions at Shake Shack

In related news, Director Daniel Harris Meyer sold 30,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. This represents a 6.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Katherine Irene Fogertey sold 642 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,333 shares of company stock valued at $6,566,330. 9.73% of the stock is owned by corporate insiders.

Institutional Trading of Shake Shack

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. raised its position in Shake Shack by 154.8% in the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after purchasing an additional 395,311 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Shake Shack in the third quarter valued at about $39,677,000. Holocene Advisors LP raised its position in Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after purchasing an additional 384,131 shares during the last quarter. Marshall Wace LLP raised its position in Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock valued at $48,990,000 after purchasing an additional 273,822 shares during the last quarter. Finally, Armistice Capital LLC raised its position in Shake Shack by 69.1% in the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after purchasing an additional 236,950 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors.

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.