TD Cowen Reaffirms Buy Rating for Shake Shack (NYSE:SHAK)

Shake Shack (NYSE:SHAK)‘s stock had its “buy” rating restated by investment analysts at TD Cowen in a report released on Wednesday, Benzinga reports. They presently have a $125.00 price target on the stock. TD Cowen’s target price would indicate a potential upside of 16.38% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Barclays raised their price objective on shares of Shake Shack from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Piper Sandler cut shares of Shake Shack from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $121.00 to $114.00 in a research note on Monday, August 19th. Wedbush reissued a “neutral” rating and set a $90.00 price objective on shares of Shake Shack in a research note on Thursday, August 1st. Truist Financial reissued a “buy” rating and set a $127.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $115.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $107.56.

Shake Shack Price Performance

SHAK stock opened at $107.41 on Wednesday. The firm has a 50 day moving average of $96.85 and a 200-day moving average of $97.43. Shake Shack has a 12-month low of $52.79 and a 12-month high of $111.29. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 195.29, a PEG ratio of 3.02 and a beta of 1.83.

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

Insider Activity

In other news, 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 transaction of $27,478.56. Following the completion of the sale, the director now directly owns 3,347 shares of the company’s stock, valued at approximately $302,535.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction on Monday, August 5th. The shares were sold at an average price of $90.39, for a total transaction of $27,478.56. Following the transaction, the director now owns 3,347 shares in the company, valued at approximately $302,535.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the transaction, the director now owns 470,437 shares in the company, valued at approximately $51,860,974.88. The disclosure for this sale can be found here. Insiders sold 12,213 shares of company stock valued at $1,311,175 in the last ninety days. Company 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 made changes to their positions in the business. Xponance Inc. lifted its holdings in Shake Shack by 4.5% in the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock worth $216,000 after buying an additional 103 shares in the last quarter. Brighton Jones LLC lifted its holdings in Shake Shack by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock worth $1,612,000 after buying an additional 187 shares in the last quarter. Arizona State Retirement System lifted its holdings in Shake Shack by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock worth $945,000 after buying an additional 196 shares in the last quarter. CWM LLC lifted its holdings in Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after buying an additional 207 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Shake Shack by 5.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,855 shares of the company’s stock worth $347,000 after buying an additional 212 shares in the last quarter. Institutional investors and hedge funds 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.