Shake Shack (NYSE:SHAK) PT Lowered to $83.00 at Robert W. Baird

Shake Shack (NYSE:SHAK) had its price objective lowered by Robert W. Baird from $88.00 to $83.00 in a research note published on Wednesday morning, The Fly reports.

A number of other brokerages have also issued reports on SHAK. UBS Group assumed coverage on Shake Shack in a report on Friday, December 3rd. They issued a neutral rating and a $78.00 price objective for the company. Barclays cut their target price on Shake Shack from $80.00 to $77.00 and set an equal weight rating for the company in a research report on Wednesday, December 15th. MKM Partners cut their target price on Shake Shack from $103.00 to $83.00 and set a neutral rating for the company in a research report on Tuesday, November 2nd. Loop Capital started coverage on Shake Shack in a research report on Tuesday, October 5th. They issued a hold rating and a $80.00 target price for the company. Finally, Cowen cut their target price on Shake Shack from $86.00 to $82.00 and set a market perform rating for the company in a research report on Friday, November 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $93.17.

Shares of SHAK stock opened at $69.29 on Wednesday. Shake Shack has a 12-month low of $65.25 and a 12-month high of $138.38. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -138.58, a price-to-earnings-growth ratio of 83.15 and a beta of 1.52. The business has a 50 day simple moving average of $75.54 and a 200 day simple moving average of $83.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.54 and a quick ratio of 3.51.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, November 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Shake Shack had a positive return on equity of 0.19% and a negative net margin of 2.64%. The business had revenue of $193.90 million during the quarter, compared to analyst estimates of $197.47 million. During the same period in the prior year, the company posted ($0.11) EPS. The business’s revenue for the quarter was up 48.7% compared to the same quarter last year. On average, equities analysts anticipate that Shake Shack will post -0.18 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Koshinski Asset Management Inc. acquired a new stake in Shake Shack during the 3rd quarter worth about $29,000. Spire Wealth Management purchased a new stake in shares of Shake Shack in the fourth quarter worth approximately $29,000. Dark Forest Capital Management LP boosted its holdings in shares of Shake Shack by 633.0% during the third quarter. Dark Forest Capital Management LP now owns 645 shares of the company’s stock worth $51,000 after purchasing an additional 557 shares during the period. Advisory Services Network LLC purchased a new position in Shake Shack during the second quarter valued at approximately $65,000. Finally, KBC Group NV increased its stake in Shake Shack by 61.5% in the 3rd quarter. KBC Group NV now owns 1,458 shares of the company’s stock valued at $114,000 after buying an additional 555 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

About Shake Shack

Shake Shack, Inc operates as a holding company. The firm engages in operating fast food hamburger restaurants. It offers beef burgers, flat-top dogs, chicken sandwiches, frozen custard and crinkle cut fries and includes all the mobile ordering essentials. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.

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