Shake Shack (NYSE:SHAK) Now Covered by Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Shake Shack (NYSE:SHAK) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $95.00 price target on the stock.

Several other equities research analysts have also issued reports on the company. Truist Financial lifted their price target on Shake Shack from $143.00 to $154.00 and gave the company a “buy” rating in a report on Friday, February 21st. Stifel Nicolaus decreased their target price on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, January 17th. TD Securities restated a “buy” rating and set a $140.00 price target on shares of Shake Shack in a research note on Friday, February 21st. Oppenheimer lifted their price objective on shares of Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Finally, Wedbush increased their target price on shares of Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $124.05.

Shake Shack Stock Down 5.7 %

NYSE:SHAK opened at $88.25 on Wednesday. The business’s fifty day moving average price is $105.33 and its 200 day moving average price is $115.06. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 383.71 and a beta of 1.89. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. Shake Shack has a 1-year low of $77.50 and a 1-year high of $139.89.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The company had revenue of $328.68 million during the quarter, compared to analyst estimates of $329.02 million. On average, sell-side analysts forecast that Shake Shack will post 1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shake Shack

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its position in Shake Shack by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company’s stock worth $2,518,000 after purchasing an additional 100 shares during the period. Quadrant Capital Group LLC increased its stake in Shake Shack by 5.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company’s stock valued at $243,000 after acquiring an additional 100 shares during the period. Summit Financial LLC raised its position in Shake Shack by 1.1% in the fourth quarter. Summit Financial LLC now owns 13,083 shares of the company’s stock worth $1,698,000 after purchasing an additional 139 shares in the last quarter. Arizona State Retirement System lifted its stake in Shake Shack by 1.7% during the fourth quarter. Arizona State Retirement System now owns 11,024 shares of the company’s stock worth $1,431,000 after purchasing an additional 182 shares during the period. Finally, Glenmede Trust Co. NA boosted its holdings in Shake Shack by 1.5% during the third quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock valued at $1,372,000 after purchasing an additional 199 shares in the last quarter. 86.07% of the stock is currently 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.