Truist Financial Issues Positive Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its target price lifted by stock analysts at Truist Financial from $143.00 to $154.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 36.39% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a research report on Wednesday, January 8th. UBS Group lifted their target price on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $125.00 to $159.00 in a research report on Tuesday, January 7th. Wedbush lifted their target price on Shake Shack from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Oppenheimer lifted their target price on Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Shake Shack presently has a consensus rating of “Hold” and a consensus target price of $125.50.

Shake Shack Trading Down 8.7 %

SHAK traded down $10.70 on Friday, hitting $112.91. The company had a trading volume of 1,439,179 shares, compared to its average volume of 1,408,223. The firm has a market cap of $4.80 billion, a P/E ratio of 664.50 and a beta of 1.86. Shake Shack has a 1 year low of $77.50 and a 1 year high of $139.89. The company’s fifty day moving average price is $122.24 and its 200 day moving average price is $116.17. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. The firm had revenue of $328.68 million for the quarter, compared to analyst estimates of $329.02 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. As a group, equities analysts expect that Shake Shack will post 0.9 earnings per share for the current year.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 642 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the transaction, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Shake Shack by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock valued at $574,497,000 after buying an additional 49,883 shares during the last quarter. State Street Corp lifted its stake in Shake Shack by 3.5% in the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after buying an additional 49,324 shares during the last quarter. Invesco Ltd. lifted its stake in Shake Shack by 30.7% in the fourth quarter. Invesco Ltd. now owns 1,245,093 shares of the company’s stock valued at $161,613,000 after buying an additional 292,348 shares during the last quarter. Holocene Advisors LP lifted its stake in Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after buying an additional 384,131 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in Shake Shack by 17.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company’s stock valued at $116,078,000 after buying an additional 134,475 shares during the last quarter. 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.