Wedbush Reiterates “Neutral” Rating for Shake Shack (NYSE:SHAK)

Shake Shack (NYSE:SHAK)‘s stock had its “neutral” rating reissued by stock analysts at Wedbush in a research note issued on Wednesday,Benzinga reports. They presently have a $130.00 target price on the stock. Wedbush’s target price points to a potential upside of 11.03% from the company’s previous close. Wedbush also issued estimates for Shake Shack’s FY2024 earnings at $0.90 EPS, Q2 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.32 EPS and FY2025 earnings at $1.26 EPS.

A number of other equities research analysts also recently issued reports on the company. Truist Financial cut their price target on Shake Shack from $149.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday. TD Cowen reiterated a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a report on Wednesday, January 8th. Finally, UBS Group boosted their price target on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Shake Shack currently has a consensus rating of “Hold” and a consensus price target of $124.78.

Shake Shack Stock Up 0.2 %

SHAK opened at $117.09 on Wednesday. Shake Shack has a twelve month low of $64.16 and a twelve month high of $139.89. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $129.29 and a 200-day moving average price of $111.00. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 688.74, a PEG ratio of 1.91 and a beta of 1.86.

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 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 company’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 EPS. Equities research analysts forecast that Shake Shack will post 0.82 earnings per share for the current year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the transaction, the chief financial officer now owns 30,717 shares in the company, valued at $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack 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 transaction, the director now directly owns 407,646 shares of the company’s stock, valued at $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,333 shares of company stock worth $6,566,330 in the last quarter. 9.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHAK. Harbor Investment Advisory LLC purchased a new position in shares of Shake Shack in the 4th quarter worth approximately $149,000. Cascade Investment Group Inc. purchased a new position in Shake Shack during the fourth quarter worth $221,000. CHURCHILL MANAGEMENT Corp bought a new position in Shake Shack during the fourth quarter valued at $871,000. Assenagon Asset Management S.A. raised its stake in shares of Shake Shack by 45.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 152,264 shares of the company’s stock valued at $19,764,000 after acquiring an additional 47,906 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Shake Shack by 4.3% in the 4th quarter. Nordea Investment Management AB now owns 76,884 shares of the company’s stock worth $10,049,000 after acquiring an additional 3,186 shares during the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

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.