Bank of America Boosts Shake Shack (NYSE:SHAK) Price Target to $116.00

Shake Shack (NYSE:SHAK) had its target price lifted by Bank of America from $104.00 to $116.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

SHAK has been the topic of several other research reports. Robert W. Baird upped their price objective on Shake Shack from $93.00 to $105.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on Shake Shack from $105.00 to $115.00 and gave the stock a hold rating in a research report on Friday, August 2nd. BTIG Research upped their target price on Shake Shack from $120.00 to $125.00 and gave the stock a buy rating in a research note on Monday, May 6th. The Goldman Sachs Group upped their target price on Shake Shack from $110.00 to $125.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Finally, 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. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $106.37.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $106.62 on Monday. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. Shake Shack has a 52 week low of $52.79 and a 52 week high of $111.29. The business’s 50 day moving average price is $91.17 and its 200 day moving average price is $95.95. The firm has a market cap of $4.53 billion, a P/E ratio of 193.86, a P/E/G ratio of 3.28 and a beta of 1.75.

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

Insider Activity at Shake Shack

In related news, Director Jeffrey Flug sold 304 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 3,347 shares of the company’s stock, valued at approximately $302,535.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was 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 approximately $3,532,299.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 3,347 shares of the company’s stock, valued at $302,535.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,892 shares of company stock valued at $1,279,534. 9.73% of the stock is owned by insiders.

Institutional Trading of Shake Shack

A number of hedge funds and other institutional investors have recently modified their holdings of SHAK. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Shake Shack by 7.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,606 shares of the company’s stock worth $1,305,000 after acquiring an additional 1,251 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Shake Shack in the 4th quarter worth $1,393,000. Vontobel Holding Ltd. purchased a new position in shares of Shake Shack during the 4th quarter worth $426,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Shake Shack by 10.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,919 shares of the company’s stock worth $661,000 after purchasing an additional 840 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Shake Shack by 1.2% during the 4th quarter. California Public Employees Retirement System now owns 68,263 shares of the company’s stock worth $5,060,000 after purchasing an additional 797 shares during the period. 86.07% of the stock is owned by institutional investors and hedge funds.

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.