Shake Shack (NYSE:SHAK) Given New $115.00 Price Target at Barclays

Shake Shack (NYSE:SHAK) had its price target hoisted by investment analysts at Barclays from $110.00 to $115.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 5.49% from the company’s current price.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group lifted their price target on Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. TD Cowen restated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Truist Financial reaffirmed a “buy” rating and issued a $127.00 target price on shares of Shake Shack in a report on Wednesday, August 28th. Morgan Stanley dropped 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 report on Tuesday, July 16th. Finally, Piper Sandler cut shares of Shake Shack from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $121.00 to $114.00 in a research note on Monday, August 19th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and a consensus target price of $107.67.

Shake Shack Price Performance

Shares of NYSE SHAK traded down $1.18 during midday trading on Tuesday, reaching $109.01. The company’s stock had a trading volume of 165,829 shares, compared to its average volume of 917,454. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 175.82, a price-to-earnings-growth ratio of 3.25 and a beta of 1.83. Shake Shack has a one year low of $53.63 and a one year high of $113.50. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average price of $104.58 and a 200 day moving average price of $97.84.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $316.50 million during the quarter, compared to the consensus estimate of $314.37 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, equities research analysts expect that Shake Shack will post 0.74 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Shake Shack news, CFO Katherine Irene Fogertey sold 963 shares of Shake Shack stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $96.03, for a total value of $92,476.89. Following the sale, the chief financial officer now owns 37,464 shares of the company’s stock, valued at $3,597,667.92. This trade represents a 0.00 % decrease in their position. 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 company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the transaction, the director now directly owns 3,347 shares of the company’s stock, valued at $302,535.33. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,330 shares of company stock valued at $2,429,690. 9.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Shake Shack in the first quarter valued at approximately $25,000. Quest Partners LLC bought a new stake in Shake Shack during the 2nd quarter worth about $38,000. Kimelman & Baird LLC acquired a new position in shares of Shake Shack during the 2nd quarter worth about $45,000. Covestor Ltd boosted its stake 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 buying an additional 643 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after acquiring an additional 207 shares in the last quarter. 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.