Shake Shack (NYSE:SHAK) Stock Rating Upgraded by Gordon Haskett

Shake Shack (NYSE:SHAK) was upgraded by stock analysts at Gordon Haskett from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat reports. The firm presently has a $154.00 target price on the stock. Gordon Haskett’s price objective would indicate a potential upside of 16.12% from the stock’s current price.

Other analysts have also recently issued reports about the stock. UBS Group increased their price target on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday. TD Cowen reissued a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Oppenheimer upped their price target on Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 price objective (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Finally, Truist Financial upped their target price on shares of Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $122.59.

Shake Shack Stock Up 0.4 %

SHAK opened at $132.62 on Wednesday. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 780.12, a PEG ratio of 2.83 and a beta of 1.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The firm’s 50-day simple moving average is $129.82 and its 200-day simple moving average is $109.73. Shake Shack has a twelve month low of $64.16 and a twelve month high of $139.89.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share 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 firm had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. During the same period in the prior year, the firm earned $0.17 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities research analysts anticipate that Shake Shack will post 0.82 EPS for the current fiscal year.

Insider Activity at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the sale, the chief financial officer now owns 30,717 shares of the company’s stock, valued at $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $3,653,700.00. Following the sale, the director now owns 407,646 shares in the company, valued at approximately $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,333 shares of company stock worth $6,566,330 in the last quarter. Corporate insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Large investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in shares of Shake Shack by 4.3% during the 4th quarter. Nordea Investment Management AB now owns 76,884 shares of the company’s stock worth $10,049,000 after acquiring an additional 3,186 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Shake Shack by 56.3% during the fourth quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $96,000 after purchasing an additional 265 shares during the last quarter. Principal Financial Group Inc. grew its position in Shake Shack by 1.1% in the third quarter. Principal Financial Group Inc. now owns 189,229 shares of the company’s stock valued at $19,530,000 after purchasing an additional 2,043 shares in the last quarter. World Investment Advisors LLC bought a new position in Shake Shack in the third quarter valued at $249,000. Finally, Neo Ivy Capital Management acquired a new stake in Shake Shack in the 3rd quarter valued at $142,000. Institutional investors own 86.07% of the company’s stock.

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.