UBS Group Forecasts Strong Price Appreciation for Shake Shack (NYSE:SHAK) Stock

Shake Shack (NYSE:SHAK) had its price objective increased by investment analysts at UBS Group from $130.00 to $140.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 5.56% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Truist Financial increased their price objective on Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Oppenheimer raised their price objective on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barclays upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $125.00 to $159.00 in a research note on Tuesday. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Finally, TD Cowen restated a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a research report on Wednesday, September 18th. Two research 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.59.

Shake Shack Stock Up 0.4 %

Shares of NYSE:SHAK opened at $132.62 on Tuesday. 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 firm has a 50 day simple moving average of $129.82 and a 200-day simple moving average of $109.73. The company has a market capitalization of $5.63 billion, a PE ratio of 780.12, a P/E/G ratio of 2.83 and a beta of 1.86. Shake Shack has a twelve month low of $64.16 and a twelve month high of $139.89.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $316.03 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. Shake Shack’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities analysts predict that Shake Shack will post 0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was 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 $49,647,206.34. This trade represents a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $88,281.42. Following the transaction, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at $4,223,894.67. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,333 shares of company stock worth $6,566,330. 9.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. increased its position in Shake Shack by 154.8% during the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after buying an additional 395,311 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Shake Shack during the third quarter valued at $39,677,000. Holocene Advisors LP increased its position in Shake Shack by 68.3% during the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after purchasing an additional 384,131 shares in the last quarter. Marshall Wace LLP raised its stake in Shake Shack by 101.2% in the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock valued at $48,990,000 after purchasing an additional 273,822 shares during the last quarter. Finally, Armistice Capital LLC lifted its holdings in Shake Shack by 69.1% in the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after purchasing an additional 236,950 shares in the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

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.