Shake Shack Inc. (NYSE:SHAK) Receives $115.56 Average Target Price from Brokerages

Shake Shack Inc. (NYSE:SHAK) has received an average rating of “Hold” from the sixteen brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $115.56.

Several equities analysts have recently issued reports on the stock. TD Cowen reiterated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Truist Financial increased their target price on Shake Shack from $144.00 to $147.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Barclays raised their price target on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Oppenheimer upped their price target on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th.

Shake Shack Price Performance

SHAK opened at $132.55 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 779.71, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85. The stock has a fifty day simple moving average of $126.26 and a two-hundred day simple moving average of $107.07. Shake Shack has a 12-month low of $64.16 and a 12-month high of $139.89.

Shake Shack (NYSE:SHAK) last issued its quarterly 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. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. During the same period last year, the business earned $0.17 EPS. Shake Shack’s quarterly revenue was up 14.7% compared to the same quarter last year. Research analysts predict that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the transaction, the chief financial officer now owns 36,180 shares of the company’s stock, valued at approximately $3,760,187.40. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 22,691 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the transaction, the director now directly owns 437,646 shares in the company, valued at $54,473,797.62. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,654 shares of company stock worth $7,700,492 over the last quarter. Company insiders own 9.73% of the company’s stock.

Institutional Trading of Shake Shack

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its stake in shares of Shake Shack by 303.3% during the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock worth $1,460,000 after acquiring an additional 12,487 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Shake Shack by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock worth $36,548,000 after purchasing an additional 16,097 shares during the period. GDS Wealth Management bought a new position in Shake Shack in the 3rd quarter worth $417,000. Jennison Associates LLC lifted its position in Shake Shack by 10.8% during the third quarter. Jennison Associates LLC now owns 294,111 shares of the company’s stock valued at $30,355,000 after purchasing an additional 28,661 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Shake Shack by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 353,501 shares of the company’s stock valued at $36,485,000 after purchasing an additional 24,813 shares during the period. 86.07% of the stock is owned by hedge funds and other institutional investors.

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.