Bank of America Boosts Shake Shack (NYSE:SHAK) Price Target to $116.00

Shake Shack (NYSE:SHAK) had its price objective raised by Bank of America from $104.00 to $116.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

SHAK has been the subject of several other reports. Truist Financial increased their price target on shares of Shake Shack from $125.00 to $127.00 and gave the stock a buy rating in a research note on Friday, August 2nd. BTIG Research increased their price target on shares of Shake Shack from $120.00 to $125.00 and gave the stock a buy rating in a research note on Monday, May 6th. JPMorgan Chase & Co. increased their price target on shares of Shake Shack from $102.00 to $105.00 and gave the stock an underweight rating in a research note on Monday, June 3rd. TD Cowen reiterated a buy rating and issued a $125.00 price target on shares of Shake Shack in a research note on Thursday, August 1st. 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 analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $106.37.

Shake Shack Stock Up 5.3 %

Shares of NYSE SHAK opened at $106.62 on Monday. 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 has a 12 month low of $52.79 and a 12 month high of $111.29. The firm has a market capitalization of $4.53 billion, a PE ratio of 193.86, a price-to-earnings-growth ratio of 3.28 and a beta of 1.75. The firm has a fifty day simple moving average of $91.17 and a two-hundred day simple moving average of $95.95.

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

Insider Buying and Selling

In related news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 3,347 shares of the company’s stock, valued at $302,535.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 3,347 shares of the company’s stock, valued at $302,535.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.10, for a total transaction of $30,527.10. Following the completion of the transaction, the chief financial officer now directly owns 37,143 shares in the company, valued at approximately $3,532,299.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,892 shares of company stock valued at $1,279,534. 9.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Shake Shack

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in Shake Shack during the 1st quarter worth approximately $25,000. GAMMA Investing LLC bought a new stake in Shake Shack during the 4th quarter worth approximately $32,000. Quest Partners LLC bought a new stake in Shake Shack during the 2nd quarter worth approximately $38,000. Kimelman & Baird LLC bought a new stake in Shake Shack during the 2nd quarter worth approximately $45,000. Finally, Covestor Ltd raised its stake in 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 acquiring an additional 643 shares during the period. 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.