Shake Shack (NYSE:SHAK) Stock Price Expected to Rise, Truist Financial Analyst Says

Shake Shack (NYSE:SHAK) had its target price upped by investment analysts at Truist Financial from $147.00 to $149.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 13.51% from the company’s previous close.

SHAK has been the topic of a number of other reports. Gordon Haskett upgraded shares of 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. Barclays upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $125.00 to $159.00 in a research note on Tuesday. UBS Group lifted their price target on Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday. Oppenheimer upped their price objective on Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $102.00 target price (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shake Shack presently has an average rating of “Hold” and an average target price of $122.59.

Shake Shack Stock Down 0.6 %

SHAK stock traded down $0.76 during midday trading on Wednesday, hitting $131.27. The company’s stock had a trading volume of 223,346 shares, compared to its average volume of 908,433. The company’s fifty day moving average price is $129.61 and its 200 day moving average price is $109.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. Shake Shack has a twelve month low of $64.16 and a twelve month high of $139.89. The stock has a market capitalization of $5.58 billion, a P/E ratio of 772.18, a PEG ratio of 2.83 and a beta of 1.86.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. Shake Shack’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 earnings per share. As a group, equities research analysts predict that Shake Shack will post 0.82 EPS for the current year.

Insider Activity

In related news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the transaction, the director now owns 407,646 shares in the company, valued at approximately $49,647,206.34. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 53,333 shares of company stock worth $6,566,330. 9.73% of the stock is currently owned by company insiders.

Institutional Trading of Shake Shack

Hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in Shake Shack in the 2nd quarter valued at approximately $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Shake Shack during the third quarter valued at about $41,000. Kimelman & Baird LLC bought a new position in shares of Shake Shack in the 2nd quarter worth $45,000. Covestor Ltd lifted its position in Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after acquiring an additional 205 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Shake Shack by 56.3% during the fourth quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $96,000 after buying an additional 265 shares in 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.