Shake Shack (NYSE:SHAK) Stock Price Up 5.1% After Analyst Upgrade

Shake Shack Inc. (NYSE:SHAK) was up 5.1% on Monday after Truist Financial raised their price target on the stock from $143.00 to $154.00. Truist Financial currently has a buy rating on the stock. Shake Shack traded as high as $114.58 and last traded at $114.30. Approximately 1,398,272 shares were traded during trading, a decline of 4% from the average daily volume of 1,458,953 shares. The stock had previously closed at $108.72.

Other equities analysts also recently issued research reports about the stock. 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 note on Wednesday, January 8th. Oppenheimer increased their target price on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Stifel Nicolaus lowered their price objective on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, January 17th. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. Finally, TD Securities reissued a “buy” rating and set a $140.00 price objective on shares of Shake Shack in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $125.50.

Insider Activity at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares in the company, valued at $4,223,894.67. The trade was a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Shake Shack

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Shake Shack by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock valued at $574,497,000 after buying an additional 49,883 shares in the last quarter. State Street Corp lifted its holdings in shares of Shake Shack by 3.5% in the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock worth $149,937,000 after buying an additional 49,324 shares in the last quarter. Invesco Ltd. grew its stake in Shake Shack by 30.7% during the fourth quarter. Invesco Ltd. now owns 1,245,093 shares of the company’s stock valued at $161,613,000 after acquiring an additional 292,348 shares in the last quarter. Holocene Advisors LP grew its position in shares of Shake Shack by 68.3% during the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after purchasing an additional 384,131 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in Shake Shack by 17.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company’s stock worth $116,078,000 after buying an additional 134,475 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Shake Shack Trading Up 5.5 %

The stock has a 50-day moving average price of $121.79 and a 200-day moving average price of $116.52. The stock has a market cap of $4.87 billion, a P/E ratio of 498.13 and a beta of 1.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, February 20th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $328.68 million for the quarter, compared to analyst estimates of $329.02 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. On average, equities research analysts expect that Shake Shack Inc. will post 1.26 EPS for the current year.

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.