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

Shake Shack (NYSE:SHAK) had its price objective boosted by investment analysts at Oppenheimer from $145.00 to $155.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 16.88% from the company’s current price.

A number of other research firms have also recently commented on SHAK. TD Cowen reaffirmed a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Truist Financial upped their price target on shares of Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $125.00 to $159.00 in a research note on Tuesday. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $102.00 price target (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Shake Shack has an average rating of “Hold” and an average price target of $122.59.

Shake Shack Stock Performance

Shares of SHAK opened at $132.62 on Tuesday. The stock has a 50 day moving average of $129.82 and a 200 day moving average of $109.73. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 780.12, a PEG ratio of 2.83 and a beta of 1.86. Shake Shack has a 12 month low of $64.16 and a 12 month high of $139.89. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51.

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

Insider Buying and Selling

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 22,691 shares of Shake Shack stock in a transaction that occurred on 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 sale, the director now owns 437,646 shares in the company, valued at approximately $54,473,797.62. This represents 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 53,333 shares of company stock worth $6,566,330 in the last ninety days. 9.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in shares of Shake Shack by 1.5% during the second quarter. Rhumbline Advisers now owns 106,272 shares of the company’s stock valued at $9,564,000 after purchasing an additional 1,523 shares in the last quarter. TD Asset Management Inc increased its position in Shake Shack by 6.1% during the 2nd quarter. TD Asset Management Inc now owns 21,000 shares of the company’s stock valued at $1,890,000 after buying an additional 1,200 shares in the last quarter. Arizona State Retirement System increased its position in Shake Shack by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after buying an additional 196 shares in the last quarter. Quest Partners LLC purchased a new position in Shake Shack during the second quarter valued at $38,000. Finally, Texas Permanent School Fund Corp boosted its holdings in Shake Shack by 6.6% in the second quarter. Texas Permanent School Fund Corp now owns 34,977 shares of the company’s stock worth $3,148,000 after acquiring an additional 2,162 shares in the last quarter. 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.