Shake Shack (NYSE:SHAK) Price Target Raised to $147.00

Shake Shack (NYSE:SHAK) had its target price hoisted by equities researchers at Truist Financial from $144.00 to $147.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 14.07% from the stock’s current price.

A number of other equities analysts have also recently commented on SHAK. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $115.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. TD Cowen restated a “buy” rating and set a $125.00 price target on shares of Shake Shack in a research report on Wednesday, September 18th. Barclays upped their price objective on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Oppenheimer raised their price objective on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $115.56.

Shake Shack Trading Down 0.6 %

Shares of SHAK stock opened at $128.87 on Thursday. The company has a market capitalization of $5.47 billion, a PE ratio of 758.06, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85. Shake Shack has a 52-week low of $64.16 and a 52-week high of $139.89. The business’s fifty day moving average is $124.04 and its 200 day moving average is $105.76. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 EPS. On average, equities research analysts anticipate that Shake Shack will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the completion of the transaction, the director now owns 460,337 shares in the company, valued at $50,673,896.96. This represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the completion of the sale, the chief financial officer now owns 36,180 shares in the company, valued at approximately $3,760,187.40. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,754 shares of company stock valued at $7,711,497 over the last three months. 9.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Xponance Inc. raised its position in shares of Shake Shack by 4.5% in the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock worth $216,000 after acquiring an additional 103 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Shake Shack by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock worth $3,241,000 after purchasing an additional 139 shares in the last quarter. Brighton Jones LLC raised its holdings in Shake Shack by 1.1% in the second quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock worth $1,612,000 after purchasing an additional 187 shares in the last quarter. Arizona State Retirement System lifted its position in Shake Shack by 1.9% during the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after buying an additional 196 shares during the period. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Shake Shack by 1.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock valued at $1,372,000 after buying an additional 199 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors.

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.