Shake Shack (NYSE:SHAK) PT Raised to $115.00

Shake Shack (NYSE:SHAK) had its price target lifted by analysts at Barclays from $110.00 to $115.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 5.49% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Bank of America upped their target price on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Piper Sandler cut shares of Shake Shack from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $121.00 to $114.00 in a research report on Monday, August 19th. Capital One Financial initiated coverage on shares of Shake Shack in a report on Monday, July 29th. They set an “overweight” rating and a $95.00 price target for the company. The Goldman Sachs Group lifted their price objective on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley cut their target price on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $107.67.

Shake Shack Stock Performance

SHAK stock traded down $1.18 during trading hours on Tuesday, reaching $109.01. The stock had a trading volume of 165,829 shares, compared to its average volume of 917,454. The stock has a market capitalization of $4.63 billion, a PE ratio of 175.82, a price-to-earnings-growth ratio of 3.25 and a beta of 1.83. The stock has a 50-day simple moving average of $104.58 and a 200 day simple moving average of $97.84. Shake Shack has a fifty-two week low of $53.63 and a fifty-two week high of $113.50. 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 released its quarterly earnings data on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $316.50 million during the quarter, compared to analysts’ expectations of $314.37 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The business’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. Analysts predict that Shake Shack will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $110.08, for a total value of $1,100,800.00. Following the sale, the director now directly owns 460,337 shares of the company’s stock, valued at approximately $50,673,896.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the sale, the director now owns 460,337 shares in the company, valued at $50,673,896.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Katherine Irene Fogertey sold 963 shares of Shake Shack stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total value of $92,476.89. Following the completion of the sale, the chief financial officer now owns 37,464 shares of the company’s stock, valued at approximately $3,597,667.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,330 shares of company stock worth $2,429,690. 9.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP lifted its stake in shares of Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock valued at $48,990,000 after buying an additional 273,822 shares in the last quarter. Armistice Capital LLC lifted its holdings in Shake Shack by 69.1% during the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after acquiring an additional 236,950 shares during the period. Point72 Asset Management L.P. boosted its position in Shake Shack by 471.9% in the second quarter. Point72 Asset Management L.P. now owns 255,374 shares of the company’s stock worth $22,984,000 after purchasing an additional 210,717 shares during the last quarter. Jennison Associates LLC bought a new position in Shake Shack in the 1st quarter valued at $16,365,000. Finally, Renaissance Technologies LLC grew its stake in Shake Shack by 41.9% in the 2nd quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock valued at $39,384,000 after purchasing an additional 129,200 shares during the period. 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.