Barclays Upgrades Shake Shack (NYSE:SHAK) to Overweight

Barclays upgraded shares of Shake Shack (NYSE:SHAK) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has $159.00 price target on the stock, up from their prior price target of $125.00.

SHAK has been the topic of a number of other research reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Truist Financial lifted their price objective on shares of Shake Shack from $144.00 to $147.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. TD Cowen reissued a “buy” rating and set a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Finally, Oppenheimer lifted their price target on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shake Shack has an average rating of “Hold” and a consensus price target of $120.50.

Shake Shack Stock Up 0.3 %

Shares of NYSE:SHAK opened at $132.49 on Tuesday. The firm has a market cap of $5.63 billion, a PE ratio of 779.35, a price-to-earnings-growth ratio of 2.83 and a beta of 1.86. The company has a fifty day simple moving average of $129.61 and a 200 day simple moving average of $109.57. 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 has a 12-month low of $64.16 and a 12-month high of $139.89.

Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating 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 business had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. During the same quarter in the prior year, the business posted $0.17 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities research analysts anticipate that Shake Shack will post 0.82 EPS for the current fiscal year.

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the transaction, the chief financial officer now owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 completion of the sale, the director now directly owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. This represents a 6.85 % 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 worth $6,566,330 in the last three months. 9.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Shake Shack

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in Shake Shack by 1.5% during the second quarter. Rhumbline Advisers now owns 106,272 shares of the company’s stock valued at $9,564,000 after buying an additional 1,523 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Shake Shack by 6.1% during the 2nd quarter. TD Asset Management Inc now owns 21,000 shares of the company’s stock valued at $1,890,000 after purchasing an additional 1,200 shares in the last quarter. Arizona State Retirement System grew its stake in shares of 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 purchasing an additional 196 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Shake Shack in the 2nd quarter worth approximately $38,000. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Shake Shack by 6.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 34,977 shares of the company’s stock worth $3,148,000 after purchasing an additional 2,162 shares in the last quarter. 86.07% of the stock is 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.