Truist Financial Forecasts Strong Price Appreciation for Shake Shack (NYSE:SHAK) Stock

Shake Shack (NYSE:SHAK) had its price objective boosted by Truist Financial from $144.00 to $147.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

SHAK has been the subject of several other research reports. TD Cowen reissued a “buy” rating and set a $125.00 price target on shares of Shake Shack in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $102.00 target price (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $115.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. Barclays upped their price target on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Oppenheimer increased their price objective on Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $115.56.

Shake Shack Trading Down 0.6 %

NYSE SHAK opened at $128.87 on Thursday. The firm has a market cap of $5.47 billion, a PE ratio of 758.06, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85. Shake Shack has a 1-year low of $64.16 and a 1-year high of $139.89. The stock has a 50-day moving average of $124.46 and a 200-day moving average of $106.01. 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 for the quarter, beating the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million during the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 earnings per share. As a group, sell-side analysts forecast that Shake Shack will post 0.82 EPS for the current year.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00. Following the sale, the director now directly owns 460,337 shares of the company’s stock, valued at $50,673,896.96. The trade was a 2.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Katherine Irene Fogertey sold 642 shares of the company’s 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 $4,223,894.67. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,754 shares of company stock worth $7,711,497. 9.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Shake Shack

Several large investors have recently modified their holdings of SHAK. Principal Financial Group Inc. grew its holdings in shares of Shake Shack by 1.1% during the third quarter. Principal Financial Group Inc. now owns 189,229 shares of the company’s stock valued at $19,530,000 after buying an additional 2,043 shares during the last quarter. World Investment Advisors LLC purchased a new stake in Shake Shack during the 3rd quarter valued at $249,000. Neo Ivy Capital Management bought a new stake in shares of Shake Shack in the 3rd quarter worth $142,000. Geode Capital Management LLC increased its holdings in shares of Shake Shack by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock worth $90,470,000 after purchasing an additional 26,620 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Shake Shack by 3.5% in the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock worth $149,937,000 after purchasing an additional 49,324 shares during the last quarter. Hedge funds and other 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.