Shake Shack (NYSE:SHAK) Stock Price Down 4.1% Following Analyst Downgrade

Shares of Shake Shack Inc. (NYSE:SHAK) fell 4.1% on Monday after Wedbush lowered their price target on the stock from $110.00 to $90.00. Wedbush currently has a neutral rating on the stock. Shake Shack traded as low as $80.76 and last traded at $81.03. 251,724 shares changed hands during trading, a decline of 72% from the average session volume of 887,882 shares. The stock had previously closed at $84.46.

SHAK has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on Shake Shack from $102.00 to $105.00 and gave the company an “underweight” rating in a research report on Monday, June 3rd. The Goldman Sachs Group assumed coverage on Shake Shack in a report on Thursday, June 13th. They issued a “buy” rating and a $110.00 price objective for the company. UBS Group upped their target price on Shake Shack from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Bank of America decreased their target price on shares of Shake Shack from $116.00 to $96.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 17th. Finally, Robert W. Baird lifted their price target on shares of Shake Shack from $102.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $99.50.

Hedge Funds Weigh In On Shake Shack

Several hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Shake Shack during the 1st quarter worth $25,000. GAMMA Investing LLC bought a new position in Shake Shack during the fourth quarter valued at $32,000. Covestor Ltd increased its position in Shake Shack by 32,150.0% in the first quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after buying an additional 643 shares during the last quarter. CWM LLC lifted its position in shares of Shake Shack by 24.7% during the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after buying an additional 207 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Shake Shack during the 1st quarter worth $97,000. Institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Up 2.7 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.99 and a current ratio of 2.03. The firm has a market capitalization of $3.54 billion, a P/E ratio of 152.08, a PEG ratio of 2.34 and a beta of 1.76. The stock has a 50 day moving average of $90.83 and a 200-day moving average of $92.33.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $290.50 million during the quarter, compared to analyst estimates of $291.00 million. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS. Research analysts predict that Shake Shack Inc. will post 0.75 earnings per share for the current fiscal year.

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.