Shake Shack (NYSE:SHAK) Price Target Raised to $115.00

Shake Shack (NYSE:SHAK) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $105.00 to $115.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages have also issued reports on SHAK. Robert W. Baird boosted their price target on shares of Shake Shack from $93.00 to $105.00 and gave the company a neutral rating in a report on Friday. BTIG Research boosted their target price on shares of Shake Shack from $120.00 to $125.00 and gave the company a buy rating in a research note on Monday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of 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 target price on shares of 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. Finally, Wedbush restated a neutral rating and issued a $90.00 target price on shares of Shake Shack in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Shake Shack has an average rating of Hold and a consensus target price of $104.83.

Shake Shack Stock Performance

SHAK stock traded up $5.80 on Friday, reaching $100.20. 540,821 shares of the company were exchanged, compared to its average volume of 952,732. Shake Shack has a 12 month low of $52.79 and a 12 month high of $111.29. The stock’s fifty day moving average price is $88.86 and its 200 day moving average price is $93.42. The firm has a market capitalization of $4.24 billion, a PE ratio of 171.55, a PEG ratio of 2.58 and a beta of 1.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.06 and a quick ratio of 1.99.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $316.50 million for the quarter, compared to analyst estimates of $314.37 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, research analysts anticipate that Shake Shack will post 0.76 EPS for the current fiscal year.

Institutional Trading of Shake Shack

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHAK. Allspring Global Investments Holdings LLC bought a new stake in shares of Shake Shack in the 1st quarter valued at about $25,000. GAMMA Investing LLC bought a new stake in shares of Shake Shack in the 4th quarter valued at about $32,000. Covestor Ltd increased its stake in shares of 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 acquiring an additional 643 shares during the last quarter. CWM LLC increased its stake in shares of Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after acquiring an additional 207 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Shake Shack in the 1st quarter valued at about $97,000. 86.07% of the stock is 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.