Truist Financial Boosts Shake Shack (NYSE:SHAK) Price Target to $125.00

Shake Shack (NYSE:SHAK) had its target price lifted by investment analysts at Truist Financial from $124.00 to $125.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 46.49% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. BTIG Research boosted their price target on Shake Shack from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Robert W. Baird increased their price target on Shake Shack from $102.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. The Goldman Sachs Group initiated coverage on Shake Shack in a report on Thursday, June 13th. They set a “buy” rating and a $110.00 price objective on the stock. Oppenheimer upped their price objective on Shake Shack from $108.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Wedbush increased their price target on Shake Shack from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given 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 price target of $99.22.

Shake Shack Stock Performance

Shares of SHAK stock opened at $85.33 on Monday. Shake Shack has a 1-year low of $52.79 and a 1-year high of $111.29. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 155.15, a P/E/G ratio of 3.56 and a beta of 1.76. The stock’s fifty day simple moving average is $96.48 and its 200-day simple moving average is $91.06.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The firm had revenue of $290.50 million for the quarter, compared to the consensus estimate of $291.00 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts predict that Shake Shack will post 0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $103.01, for a total value of $31,315.04. Following the completion of the transaction, the director now owns 3,754 shares in the company, valued at approximately $386,699.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Several hedge funds have recently modified their holdings of SHAK. Allspring Global Investments Holdings LLC acquired a new stake in Shake Shack in the 1st quarter valued at about $25,000. GAMMA Investing LLC acquired a new stake in Shake Shack in the 4th quarter valued at about $32,000. Ramirez Asset Management Inc. acquired a new stake in Shake Shack in the 3rd quarter valued at about $35,000. Covestor Ltd lifted its stake in Shake Shack by 32,150.0% in the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after purchasing an additional 643 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Shake Shack in the 1st quarter valued at about $97,000. 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.