Shake Shack (NYSE:SHAK) Price Target Raised to $105.00

Shake Shack (NYSE:SHAK) had its target price lifted by Robert W. Baird from $102.00 to $105.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. UBS Group upped their price objective on Shake Shack from $80.00 to $88.00 and gave the stock a neutral rating in a research report on Monday, February 12th. Raymond James increased their price target on shares of Shake Shack from $90.00 to $115.00 and gave the stock a strong-buy rating in a report on Friday, February 16th. JPMorgan Chase & Co. upped their price objective on shares of Shake Shack from $65.00 to $100.00 and gave the stock an underweight rating in a research report on Monday, March 4th. Wedbush restated a neutral rating and set a $80.00 target price on shares of Shake Shack in a research report on Wednesday, February 14th. Finally, BTIG Research lifted their price target on Shake Shack from $110.00 to $120.00 and gave the company a buy rating in a research note on Thursday, March 14th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $96.33.

Shake Shack Stock Performance

NYSE SHAK traded up $2.53 on Friday, hitting $107.47. 998,288 shares of the company’s stock traded hands, compared to its average volume of 746,591. The firm’s 50-day moving average price is $102.37 and its two-hundred day moving average price is $80.42. The firm has a market capitalization of $4.55 billion, a PE ratio of 195.40, a P/E/G ratio of 3.71 and a beta of 1.78. The company has a current ratio of 2.03, a quick ratio of 2.01 and a debt-to-equity ratio of 0.52. Shake Shack has a 1-year low of $52.79 and a 1-year high of $110.90.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $290.50 million for the quarter, compared to analyst estimates of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) earnings per share. As a group, analysts expect that Shake Shack will post 0.72 EPS for the current year.

Insider Transactions at Shake Shack

In related news, Director Daniel Harris Meyer sold 23,966 shares of Shake Shack stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $100.13, for a total value of $2,399,715.58. Following the completion of the transaction, the director now directly owns 526,471 shares in the company, valued at $52,715,541.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value of $31,315.04. Following the sale, the director now directly owns 3,754 shares of the company’s stock, valued at approximately $386,699.54. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 23,966 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the completion of the sale, the director now owns 526,471 shares in the company, valued at $52,715,541.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,760 shares of company stock valued at $10,190,420. 10.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Shake Shack

A number of hedge funds and other institutional investors have recently bought and sold shares of SHAK. QRG Capital Management Inc. boosted its holdings in shares of Shake Shack by 4.5% in the 4th quarter. QRG Capital Management Inc. now owns 3,711 shares of the company’s stock valued at $275,000 after buying an additional 161 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Shake Shack during the first quarter worth approximately $25,000. SG Americas Securities LLC lifted its stake in Shake Shack by 6.9% in the third quarter. SG Americas Securities LLC now owns 3,747 shares of the company’s stock valued at $218,000 after buying an additional 243 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Shake Shack by 5.7% in the third quarter. Commonwealth Equity Services LLC now owns 4,560 shares of the company’s stock valued at $265,000 after acquiring an additional 247 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in shares of Shake Shack by 1.4% during the third quarter. Los Angeles Capital Management LLC now owns 19,679 shares of the company’s stock worth $1,143,000 after acquiring an additional 274 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.