Stifel Nicolaus Issues Pessimistic Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its target price trimmed by Stifel Nicolaus from $128.00 to $110.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities analysts have also issued reports on the company. Wedbush reissued a “neutral” rating and set a $130.00 price target on shares of Shake Shack in a report on Wednesday, January 15th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $125.00 to $159.00 in a report on Tuesday, January 7th. Truist Financial dropped their price objective on shares of Shake Shack from $149.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $123.78.

Shake Shack Trading Down 1.4 %

SHAK opened at $115.25 on Friday. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 677.94, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. Shake Shack has a 52 week low of $66.06 and a 52 week high of $139.89. The business’s 50 day moving average is $128.97 and its two-hundred day moving average is $111.56. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last announced its earnings results on Wednesday, October 30th. The company reported $0.25 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 analysts’ expectations of $316.03 million. During the same period in the previous year, the company posted $0.17 EPS. The company’s quarterly revenue was up 14.7% on a year-over-year basis. On average, research analysts predict that Shake Shack will post 0.82 EPS for the current year.

Insider Buying and Selling

In related news, 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 value of $3,653,700.00. Following the sale, the director now owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. This represents a 6.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the transaction, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at $4,223,894.67. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,333 shares of company stock worth $6,566,330 in the last three months. Corporate insiders own 9.73% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Hedge funds have recently modified their holdings of the company. Xponance Inc. lifted its stake in shares of Shake Shack by 4.5% during the second quarter. Xponance Inc. now owns 2,395 shares of the company’s stock valued at $216,000 after buying an additional 103 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Shake Shack by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock worth $3,241,000 after purchasing an additional 139 shares during the period. Brighton Jones LLC lifted its stake in shares of Shake Shack by 1.1% during the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock worth $1,612,000 after purchasing an additional 187 shares during the period. Glenmede Trust Co. NA boosted its holdings in shares of Shake Shack by 1.5% during the third quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock worth $1,372,000 after purchasing an additional 199 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Shake Shack by 41.6% in the third quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after purchasing an additional 205 shares during the period. 86.07% of the stock is owned by institutional investors and hedge funds.

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.