Shake Shack (NYSE:SHAK) Shares Gap Down to $107.37

Shake Shack Inc. (NYSE:SHAK)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $107.37, but opened at $104.50. Shake Shack shares last traded at $107.16, with a volume of 125,530 shares trading hands.

Analyst Ratings Changes

Several equities analysts have commented on SHAK shares. Piper Sandler downgraded Shake Shack from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $121.00 to $114.00 in a research report on Monday. Capital One Financial started coverage on Shake Shack in a research report on Monday, July 29th. They set an “overweight” rating and a $95.00 price objective for the company. The Goldman Sachs Group raised their price objective on Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price objective on Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Shake Shack from $105.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Shake Shack has a consensus rating of “Hold” and a consensus price target of $105.32.

Shake Shack Stock Performance

The company has a 50-day moving average of $90.43 and a 200-day moving average of $95.52. The company has a market cap of $4.47 billion, a PE ratio of 195.22, a PEG ratio of 3.18 and a beta of 1.75. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The business had revenue of $316.50 million for the quarter, compared to analyst estimates of $314.37 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. Shake Shack’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. As a group, analysts anticipate that Shake Shack Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction 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 directly owns 3,347 shares in the company, valued at $302,535.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Shake Shack news, CFO Katherine Irene Fogertey sold 963 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total value of $92,476.89. Following the sale, the chief financial officer now directly owns 37,464 shares in the company, valued at $3,597,667.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 3,347 shares in the company, valued at $302,535.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,892 shares of company stock worth $177,134. 9.73% of the stock is owned by company insiders.

Institutional Trading of Shake Shack

A number of hedge funds and other institutional investors have recently made changes to their positions in SHAK. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Shake Shack by 7.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,606 shares of the company’s stock valued at $1,305,000 after purchasing an additional 1,251 shares during the period. Louisiana State Employees Retirement System purchased a new position in Shake Shack during the fourth quarter worth about $1,393,000. Vontobel Holding Ltd. purchased a new position in Shake Shack during the fourth quarter worth about $426,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Shake Shack by 10.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,919 shares of the company’s stock worth $661,000 after buying an additional 840 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in Shake Shack by 1.2% during the fourth quarter. California Public Employees Retirement System now owns 68,263 shares of the company’s stock worth $5,060,000 after buying an additional 797 shares in 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.