Shake Shack (NYSE:SHAK) Price Target Raised to $149.00

Shake Shack (NYSE:SHAK) had its price objective hoisted by Truist Financial from $147.00 to $149.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

SHAK has been the subject of several other reports. Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research report on Wednesday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. UBS Group boosted their price objective on shares of Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday. Oppenheimer lifted their price target on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, TD Cowen restated a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shake Shack presently has an average rating of “Hold” and a consensus target price of $122.89.

Shake Shack Stock Down 3.2 %

Shares of NYSE:SHAK opened at $128.61 on Wednesday. The company has a 50 day moving average price of $130.04 and a two-hundred day moving average price of $109.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The company has a market capitalization of $5.46 billion, a PE ratio of 756.53, a PEG ratio of 2.83 and a beta of 1.86. 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 quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. Analysts forecast that Shake Shack will post 0.82 earnings per share for the current year.

Insiders Place Their Bets

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were 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 in the company, valued at approximately $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the sale, the director now directly owns 407,646 shares in the company, 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. In the last ninety days, insiders sold 53,333 shares of company stock worth $6,566,330. 9.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

A number of institutional investors have recently bought and sold shares of the business. Quest Partners LLC bought a new stake in Shake Shack in the 2nd quarter worth approximately $38,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shake Shack in the 3rd quarter worth approximately $41,000. Kimelman & Baird LLC bought a new stake in Shake Shack in the 2nd quarter worth approximately $45,000. Covestor Ltd increased its stake in Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after acquiring an additional 205 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Shake Shack by 56.3% in 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. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Company Profile

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.