Shake Shack (NYSE:SHAK) Rating Increased to Overweight at Barclays

Shake Shack (NYSE:SHAK) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday,Benzinga reports. The firm currently has a $159.00 price objective on the stock, up from their previous price objective of $125.00. Barclays‘s price target would suggest a potential upside of 20.39% from the company’s current price.

Several other equities analysts have also commented on the stock. Truist Financial upped their price objective on shares of Shake Shack from $144.00 to $147.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. TD Cowen reaffirmed a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $102.00 target price (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Finally, Oppenheimer upped their target price on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued 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 an average price target of $118.94.

Shake Shack Stock Performance

Shares of SHAK stock opened at $132.07 on Tuesday. The firm’s 50 day moving average price is $129.23 and its 200-day moving average price is $109.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. Shake Shack has a one year low of $64.16 and a one year high of $139.89. The firm has a market cap of $5.61 billion, a P/E ratio of 776.88, a P/E/G ratio of 2.83 and a beta of 1.86.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. During the same period in the prior year, the business posted $0.17 EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities research analysts predict that Shake Shack will post 0.82 EPS for the current year.

Insider Buying and Selling

In other news, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the sale, the director now owns 407,646 shares in the company, valued at approximately $49,647,206.34. This trade represents a 6.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the sale, the chief financial officer now owns 30,717 shares of the company’s stock, valued at $4,223,894.67. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,333 shares of company stock worth $6,566,330 in the last 90 days. Company insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Large investors have recently made changes to their positions in the stock. Nordea Investment Management AB increased its holdings in Shake Shack by 4.3% during the 4th quarter. Nordea Investment Management AB now owns 76,884 shares of the company’s stock valued at $10,049,000 after acquiring an additional 3,186 shares in the last quarter. GAMMA Investing LLC increased its holdings in Shake Shack by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $96,000 after acquiring an additional 265 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Shake Shack by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 189,229 shares of the company’s stock valued at $19,530,000 after acquiring an additional 2,043 shares in the last quarter. World Investment Advisors LLC purchased a new position in Shake Shack during the 3rd quarter valued at about $249,000. Finally, Neo Ivy Capital Management purchased a new position in Shake Shack during the 3rd quarter valued at about $142,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

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.