Shake Shack (NYSE:SHAK) Rating Lowered to Neutral at Piper Sandler

Shake Shack (NYSE:SHAK) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued on Monday, Marketbeat.com reports. They currently have a $114.00 price target on the stock, down from their prior price target of $121.00. Piper Sandler’s price target would indicate a potential upside of 12.56% from the stock’s current price.

Several other research analysts have also weighed in on SHAK. Truist Financial lifted their price objective on shares of Shake Shack from $125.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group lifted their target price on Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Morgan Stanley lowered their price target on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. UBS Group lifted their price objective on Shake Shack from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Capital One Financial started coverage on Shake Shack in a research note on Monday, July 29th. They set an “overweight” rating and a $95.00 target price for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Shake Shack has an average rating of “Hold” and a consensus price target of $106.37.

Shake Shack Trading Down 3.3 %

Shares of NYSE SHAK opened at $101.28 on Monday. Shake Shack has a fifty-two week low of $52.79 and a fifty-two week high of $111.29. The firm has a market capitalization of $4.30 billion, a P/E ratio of 184.15, a P/E/G ratio of 3.18 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 2.03. The company’s 50 day simple moving average is $90.69 and its 200 day simple moving average is $95.71.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The company had revenue of $316.50 million for the quarter, compared to the consensus estimate of $314.37 million. During the same quarter in the prior year, the business posted $0.18 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts predict that Shake Shack will post 0.73 EPS for the current year.

Insider Activity

In related news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.10, for a total transaction of $30,527.10. Following the sale, the chief financial officer now owns 37,143 shares in the company, valued at $3,532,299.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the sale, the director now owns 3,347 shares in the company, valued at $302,535.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.10, for a total value of $30,527.10. Following the completion of the sale, the chief financial officer now directly owns 37,143 shares of the company’s stock, valued at $3,532,299.30. The disclosure for this sale can be found here. Insiders sold 11,892 shares of company stock worth $1,279,534 in the last quarter. Corporate insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Shake Shack in the 1st quarter valued at $25,000. GAMMA Investing LLC acquired a new stake in shares of Shake Shack during the fourth quarter worth $32,000. Quest Partners LLC acquired a new position in shares of Shake Shack in the second quarter valued at about $38,000. Kimelman & Baird LLC bought a new stake in Shake Shack in the 2nd quarter valued at about $45,000. Finally, Covestor Ltd grew its position in Shake Shack by 32,150.0% during the first quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after buying an additional 643 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.