Shake Shack (NYSE:SHAK) Sets New 1-Year High – Still a Buy?

Shares of Shake Shack Inc. (NYSE:SHAK) hit a new 52-week high on Thursday . The stock traded as high as $112.64 and last traded at $111.50, with a volume of 445244 shares trading hands. The stock had previously closed at $108.03.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Piper Sandler cut shares of Shake Shack from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $121.00 to $114.00 in a report on Monday, August 19th. Morgan Stanley cut their target price on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $115.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. The Goldman Sachs Group raised their price objective on Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Wedbush reiterated a “neutral” rating and issued a $90.00 price target on shares of Shake Shack in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $107.39.

Shake Shack Stock Down 1.9 %

The business has a 50-day moving average price of $103.40 and a 200 day moving average price of $97.67. The stock has a market capitalization of $4.58 billion, a P/E ratio of 173.97, a P/E/G ratio of 3.24 and a beta of 1.83. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $316.50 million for 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 firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, equities analysts expect that Shake Shack Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity

In related news, CFO Katherine Irene Fogertey sold 963 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $96.03, for a total value of $92,476.89. Following the sale, the chief financial officer now directly owns 37,464 shares of the company’s stock, valued at $3,597,667.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Katherine Irene Fogertey sold 963 shares of Shake Shack stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $96.03, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction on Monday, August 5th. The shares were sold at an average price of $90.39, for a total value of $27,478.56. Following the sale, the director now directly owns 3,347 shares of the company’s stock, valued at approximately $302,535.33. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,482 shares of company stock valued at $2,443,382. 9.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shake Shack

A number of hedge funds and other institutional investors have recently modified their holdings of SHAK. Allspring Global Investments Holdings LLC bought a new position in shares of Shake Shack during the 1st quarter worth approximately $25,000. Quest Partners LLC acquired a new stake in shares of Shake Shack in the 2nd quarter worth $38,000. Kimelman & Baird LLC purchased a new position in Shake Shack during the 2nd quarter worth $45,000. Covestor Ltd increased its position in Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after buying an additional 643 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Shake Shack in the first quarter valued at about $97,000. 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.