Shake Shack’s (SHAK) “Buy” Rating Reiterated at TD Cowen

TD Cowen reaffirmed their buy rating on shares of Shake Shack (NYSE:SHAK) in a research report report published on Wednesday morning, Benzinga reports. TD Cowen currently has a $125.00 price target on the stock.

SHAK has been the subject of several other reports. Truist Financial restated a buy rating and set a $127.00 price target on shares of Shake Shack in a report on Wednesday, August 28th. Barclays upped their price objective on shares of Shake Shack from $108.00 to $110.00 and gave the company an equal weight rating in a research note on Friday, August 2nd. Bank of America upped their price objective on shares of Shake Shack from $104.00 to $116.00 and gave the company a neutral rating in a research note on Monday, August 19th. Capital One Financial assumed coverage on shares of Shake Shack in a research note on Monday, July 29th. They issued an overweight rating and a $95.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a $115.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Shake Shack currently has a consensus rating of Hold and an average target price of $107.56.

Shake Shack Stock Performance

Shares of SHAK opened at $106.94 on Wednesday. Shake Shack has a one year low of $52.79 and a one year high of $111.29. The company has a 50-day moving average of $97.29 and a two-hundred day moving average of $97.43. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 194.44, a PEG ratio of 3.02 and a beta of 1.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.06 and a quick ratio of 2.03.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The company had revenue of $316.50 million during the quarter, compared to analysts’ expectations of $314.37 million. During the same period last year, the company posted $0.18 earnings per share. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities research 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 Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00. Following the transaction, the director now directly owns 470,437 shares in the company, valued at approximately $51,860,974.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00. Following the transaction, the director now directly owns 470,437 shares in the company, valued at approximately $51,860,974.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total transaction of $31,640.97. Following the completion of the sale, the chief financial officer now directly owns 36,822 shares of the company’s stock, valued at $3,629,544.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,213 shares of company stock worth $1,311,175. 9.73% of the stock is owned by insiders.

Institutional Trading of Shake Shack

A number of hedge funds have recently bought and sold shares of SHAK. Charles Schwab Investment Management Inc. boosted its holdings in Shake Shack by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 309,641 shares of the company’s stock valued at $22,951,000 after purchasing an additional 12,362 shares during the period. Teacher Retirement System of Texas boosted its holdings in Shake Shack by 61.7% in the 4th quarter. Teacher Retirement System of Texas now owns 11,486 shares of the company’s stock valued at $851,000 after purchasing an additional 4,381 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Shake Shack by 31.4% during the 4th quarter. Principal Financial Group Inc. now owns 263,256 shares of the company’s stock worth $19,513,000 after acquiring an additional 62,897 shares during the period. Norges Bank bought a new position in shares of Shake Shack during the 4th quarter worth about $12,238,000. Finally, Oxler Private Wealth LLC bought a new position in shares of Shake Shack during the 4th quarter worth about $247,000. 86.07% of the stock is owned by institutional investors.

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.