TD Cowen Reaffirms Buy Rating for Shake Shack (NYSE:SHAK)

TD Cowen reaffirmed their buy rating on shares of Shake Shack (NYSE:SHAK) in a research report released on Wednesday, Benzinga reports. TD Cowen currently has a $125.00 price target on the stock.

SHAK has been the subject of a number of other research reports. Truist Financial reiterated a buy rating and set a $127.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. Piper Sandler cut shares of Shake Shack from an overweight rating to a neutral rating and lowered their price target for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. Wedbush reissued a neutral rating and set a $90.00 price objective on shares of Shake Shack in a research note on Thursday, August 1st. Bank of America lifted their price objective on shares of Shake Shack from $104.00 to $116.00 and gave the stock a neutral rating in a research note on Monday, August 19th. Finally, Morgan Stanley cut their price target 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shake Shack presently has a consensus rating of Hold and a consensus target price of $107.56.

Shake Shack Price Performance

NYSE:SHAK opened at $106.94 on Wednesday. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 194.44, a PEG ratio of 3.02 and a beta of 1.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06. The company has a 50-day moving average of $97.29 and a 200-day moving average of $97.43. Shake Shack has a 52 week low of $52.79 and a 52 week high of $111.29.

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

Insider Activity

In other news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00. Following the sale, the director now directly owns 470,437 shares in the company, valued at $51,860,974.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 37,143 shares in the company, valued at $3,532,299.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the transaction, the director now owns 470,437 shares in the company, valued at $51,860,974.88. The disclosure for this sale can be found here. Insiders have sold 12,213 shares of company stock worth $1,311,175 over the last ninety days. Insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

A number of institutional investors have recently added to or reduced their stakes in the company. Kimelman & Baird LLC acquired a new position in Shake Shack during the second quarter worth $45,000. Creative Planning lifted its stake in shares of Shake Shack by 15.6% during the 2nd quarter. Creative Planning now owns 5,946 shares of the company’s stock worth $535,000 after buying an additional 804 shares during the last quarter. Algert Global LLC bought a new stake in shares of Shake Shack during the 2nd quarter worth about $340,000. Susquehanna Fundamental Investments LLC boosted its holdings in shares of Shake Shack by 40.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 26,227 shares of the company’s stock worth $2,360,000 after buying an additional 7,610 shares during the period. Finally, Shellback Capital LP grew its stake in Shake Shack by 18.2% in the 2nd quarter. Shellback Capital LP now owns 65,000 shares of the company’s stock valued at $5,850,000 after buying an additional 10,000 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.