Shake Shack (NYSE:SHAK) Given New $105.00 Price Target at Robert W. Baird

Shake Shack (NYSE:SHAK) had its price target hoisted by Robert W. Baird from $93.00 to $105.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price objective on Shake Shack from $102.00 to $105.00 and gave the company an underweight rating in a research note on Monday, June 3rd. Morgan Stanley reduced their price objective on Shake Shack from $108.00 to $100.00 and set an equal weight rating on the stock in a research note on Tuesday, July 16th. UBS Group raised their price objective on Shake Shack from $110.00 to $115.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Wedbush reaffirmed a neutral rating and issued a $90.00 price objective on shares of Shake Shack in a research note on Thursday. Finally, Capital One Financial initiated coverage on Shake Shack in a research note on Monday, July 29th. They issued an overweight rating and a $95.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $103.05.

Shake Shack Price Performance

Shares of SHAK traded down $5.98 during trading hours on Friday, hitting $96.43. 2,512,709 shares of the company were exchanged, compared to its average volume of 1,239,867. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 175.33, a P/E/G ratio of 2.73 and a beta of 1.75. Shake Shack has a fifty-two week low of $52.79 and a fifty-two week high of $111.29. The company has a quick ratio of 1.99, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $88.89 and its 200 day moving average is $92.82.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $316.50 million for the quarter, compared to analyst estimates of $314.37 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. Shake Shack’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. On average, equities analysts anticipate that Shake Shack will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shake Shack

Hedge funds have recently made changes to their positions in the stock. Madison Asset Management LLC raised its position in shares of Shake Shack by 52.6% during the fourth quarter. Madison Asset Management LLC now owns 84,062 shares of the company’s stock worth $6,231,000 after acquiring an additional 28,975 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in Shake Shack in the fourth quarter worth approximately $2,784,000. Janney Montgomery Scott LLC bought a new stake in Shake Shack in the first quarter worth approximately $853,000. Jennison Associates LLC bought a new stake in Shake Shack in the first quarter worth approximately $16,365,000. Finally, Los Angeles Capital Management LLC increased its holdings in Shake Shack by 190.4% in the first quarter. Los Angeles Capital Management LLC now owns 16,532 shares of the company’s stock worth $1,720,000 after purchasing an additional 10,840 shares in the last quarter. 86.07% of the stock is currently owned by 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.