Shake Shack (NYSE:SHAK) PT Raised to $135.00 at Oppenheimer

Shake Shack (NYSE:SHAK) had its price objective raised by equities research analysts at Oppenheimer from $122.00 to $135.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 21.08% from the company’s current price.

Several other brokerages have also recently weighed in on SHAK. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $121.00 to $114.00 in a report on Monday, August 19th. TD Cowen reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Truist Financial reissued a “buy” rating and set a $127.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. Robert W. Baird upped their price target on shares of Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Capital One Financial assumed coverage on shares of Shake Shack in a report on Monday, July 29th. They set an “overweight” rating and a $95.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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 quick ratio of 2.03 and a current ratio of 2.06. The stock’s 50 day moving average price is $104.82 and its 200-day moving average price is $98.10. Shake Shack has a one year low of $54.06 and a one year high of $113.50. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 179.84, a P/E/G ratio of 3.23 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $314.37 million. During the same period in the prior year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities analysts forecast that Shake Shack will post 0.74 EPS for the current year.

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction 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 completion of the transaction, the director now owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. The trade was 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 this link. In other news, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 470,437 shares in the company, valued at $51,860,974.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Flug sold 304 shares of the 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 in the company, valued at $302,535.33. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,330 shares of company stock valued at $2,429,690 in the last ninety days. Company insiders own 9.73% of the company’s stock.

Institutional Trading of Shake Shack

Several institutional investors have recently modified their holdings of SHAK. Hsbc Holdings PLC lifted its stake in Shake Shack by 303.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock valued at $1,460,000 after buying an additional 12,487 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Shake Shack in the first quarter valued at approximately $653,000. Janney Montgomery Scott LLC acquired a new stake in shares of Shake Shack in the first quarter worth approximately $853,000. Jennison Associates LLC purchased a new stake in shares of Shake Shack during the first quarter worth approximately $16,365,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in Shake Shack by 20.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 37,535 shares of the company’s stock valued at $3,903,000 after purchasing an additional 6,411 shares during the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

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.