Oppenheimer Raises Shake Shack (NYSE:SHAK) Price Target to $135.00

Shake Shack (NYSE:SHAK) had its target price increased by Oppenheimer from $122.00 to $135.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 21.08% from the stock’s current price.

A number of other brokerages also recently commented on SHAK. Capital One Financial began coverage on shares of Shake Shack in a research note on Monday, July 29th. They set an “overweight” rating and a $95.00 target price on the stock. The Goldman Sachs Group upped their price objective on Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Bank of America raised their target price on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Morgan Stanley decreased their price target on 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. Finally, Piper Sandler downgraded Shake Shack from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $108.50.

Shake Shack Trading Up 1.0 %

SHAK opened at $111.50 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.06 and a quick ratio of 2.03. The company’s 50 day simple moving average is $104.82 and its two-hundred day simple moving average is $98.10. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 179.84, a price-to-earnings-growth ratio of 3.23 and a beta of 1.83. Shake Shack has a 1-year low of $54.06 and a 1-year high of $113.50.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The company had revenue of $316.50 million for the quarter, compared to analyst estimates of $314.37 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. Analysts expect that Shake Shack will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.10, for a total transaction of $30,527.10. Following the sale, the chief financial officer now directly owns 37,143 shares in the company, valued at approximately $3,532,299.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.10, for a total value of $30,527.10. Following the completion of the transaction, the chief financial officer now owns 37,143 shares in the company, valued at approximately $3,532,299.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,330 shares of company stock valued at $2,429,690 in the last quarter. Corporate insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHAK. Marshall Wace LLP boosted its holdings in shares of Shake Shack by 101.2% in the 2nd 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 position in Shake Shack by 69.1% in the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after acquiring an additional 236,950 shares during the last quarter. Point72 Asset Management L.P. boosted its stake 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 valued at $22,984,000 after acquiring an additional 210,717 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Shake Shack during the first quarter worth about $16,365,000. Finally, Renaissance Technologies LLC increased its position in shares of Shake Shack by 41.9% during the second quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after purchasing an additional 129,200 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

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.