Shake Shack (NYSE:SHAK) PT Raised to $124.00

Shake Shack (NYSE:SHAK) had its price objective increased by Truist Financial from $115.00 to $124.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Wedbush increased their target price on Shake Shack from $100.00 to $110.00 and gave the stock a neutral rating in a report on Friday. Raymond James increased their price objective 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. BTIG Research boosted their target price on shares of Shake Shack from $110.00 to $120.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Robert W. Baird upped their target price on shares of Shake Shack from $102.00 to $105.00 and gave the stock a neutral rating in a research report on Friday. Finally, UBS Group raised their price target on shares of Shake Shack from $80.00 to $88.00 and gave the company a neutral rating in a report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $98.24.

Shake Shack Stock Performance

SHAK traded down $1.85 during trading on Friday, hitting $105.62. The stock had a trading volume of 1,152,480 shares, compared to its average volume of 954,618. The firm has a market cap of $4.47 billion, a PE ratio of 197.80, a P/E/G ratio of 3.79 and a beta of 1.78. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 0.52. Shake Shack has a 12 month low of $52.79 and a 12 month high of $111.29. The company has a 50 day simple moving average of $102.37 and a 200-day simple moving average of $80.77.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The business 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 quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) EPS. Analysts expect that Shake Shack will post 0.72 EPS for the current year.

Insider Buying and Selling

In other news, Director Daniel Harris Meyer sold 23,966 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the sale, the director now owns 526,471 shares of the company’s stock, valued at $52,715,541.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, 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 sale, the director now directly owns 526,471 shares in the company, valued at $52,715,541.23. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $103.01, for a total value of $31,315.04. Following the transaction, the director now owns 3,754 shares of the company’s stock, valued at approximately $386,699.54. The disclosure for this sale can be found here. Insiders have sold 100,608 shares of company stock valued at $10,178,861 in the last 90 days. 10.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Shake Shack

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

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.