Shake Shack (NYSE:SHAK) Hits New 12-Month High Following Analyst Upgrade

Shake Shack Inc. (NYSE:SHAK)’s stock price hit a new 52-week high during trading on Monday after Oppenheimer raised their price target on the stock from $122.00 to $135.00. Oppenheimer currently has an outperform rating on the stock. Shake Shack traded as high as $114.44 and last traded at $113.28, with a volume of 61393 shares changing hands. The stock had previously closed at $110.45.

Several other research firms have also weighed in on SHAK. Barclays raised their price objective on Shake Shack from $110.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $115.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. Wedbush restated a “neutral” rating and issued a $90.00 target price on shares of Shake Shack in a report on Thursday, August 1st. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Finally, Bank of America raised their price target on shares of Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $108.50.

Insiders Place Their Bets

In related news, Director Jeffrey Flug sold 304 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the sale, the director now owns 3,347 shares in the company, valued at approximately $302,535.33. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.10, for a total value of $30,527.10. Following the completion of the sale, the chief financial officer now directly owns 37,143 shares in the company, valued at approximately $3,532,299.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction on Monday, August 5th. The stock was sold at an average price of $90.39, for a total transaction of $27,478.56. Following the completion of the transaction, the director now owns 3,347 shares in the company, valued at approximately $302,535.33. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,330 shares of company stock worth $2,429,690 in the last quarter. 9.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Shake Shack in the 1st quarter worth approximately $25,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Shake Shack in the 3rd quarter worth about $41,000. Quest Partners LLC bought a new position in shares of Shake Shack in the 2nd quarter worth about $38,000. Kimelman & Baird LLC purchased a new position in Shake Shack during the 2nd quarter valued at about $45,000. Finally, Covestor Ltd grew its holdings in Shake Shack by 32,150.0% in the first quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares during the period. 86.07% of the stock is owned by hedge funds and other institutional investors.

Shake Shack Trading Up 3.5 %

The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $4.84 billion, a PE ratio of 207.85, a PEG ratio of 3.23 and a beta of 1.83. The stock’s fifty day simple moving average is $105.01 and its two-hundred day simple moving average is $98.20.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The business had revenue of $316.50 million during the quarter, compared to analysts’ expectations of $314.37 million. During the same period in the previous year, the company earned $0.18 earnings per share. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, sell-side analysts forecast that Shake Shack Inc. will post 0.74 EPS for the current fiscal 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.