Shake Shack (NYSE:SHAK) Rating Lowered to Neutral at Piper Sandler

Shake Shack (NYSE:SHAK) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a report released on Monday, Marketbeat.com reports. They currently have a $114.00 price objective on the stock, down from their prior price objective of $121.00. Piper Sandler’s price target would suggest a potential upside of 12.56% from the company’s current price.

A number of other brokerages also recently issued reports on SHAK. Robert W. Baird increased their target price on Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Truist Financial raised their price objective on shares of Shake Shack from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. BTIG Research upped their target price on shares of Shake Shack from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. lifted their price objective on Shake Shack from $102.00 to $105.00 and gave the stock an “underweight” rating in a report on Monday, June 3rd. Finally, Barclays upped their target price on Shake Shack from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $106.37.

Shake Shack Stock Down 3.3 %

SHAK opened at $101.28 on Monday. Shake Shack has a 52 week low of $52.79 and a 52 week high of $111.29. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $90.69 and a two-hundred day moving average price of $95.71. The company has a market cap of $4.30 billion, a PE ratio of 184.15, a P/E/G ratio of 3.18 and a beta of 1.75.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The firm had revenue of $316.50 million for the quarter, compared to analyst estimates of $314.37 million. During the same period last year, the firm posted $0.18 EPS. Shake Shack’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, research analysts anticipate that Shake Shack will post 0.73 EPS for the current year.

Insider Buying and Selling

In other news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $110.24, for a total value of $1,102,400.00. Following the completion of the sale, the director now owns 470,437 shares in the company, valued at $51,860,974.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the completion of the sale, the director now directly owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $90.39, for a total transaction of $27,478.56. Following the completion of the transaction, the director now owns 3,347 shares in the company, valued at approximately $302,535.33. The disclosure for this sale can be found here. In the last three months, insiders sold 11,892 shares of company stock valued at $1,279,534. Company insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Several institutional investors and hedge funds have recently made changes to their positions in SHAK. Allspring Global Investments Holdings LLC bought a new stake in shares of Shake Shack in the 1st quarter worth about $25,000. GAMMA Investing LLC acquired a new position in Shake Shack in the fourth quarter worth $32,000. Quest Partners LLC bought a new stake in Shake Shack during the second quarter valued at $38,000. Kimelman & Baird LLC acquired a new stake in Shake Shack during the second quarter worth about $45,000. Finally, Covestor Ltd raised its position in shares of Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares during the period. 86.07% of the stock is currently owned by hedge funds and other 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.