Shake Shack (NYSE:SHAK) Price Target Raised to $155.00 at Oppenheimer

Shake Shack (NYSE:SHAK) had its price target raised by Oppenheimer from $145.00 to $155.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 17.36% from the company’s current price.

A number of other research firms have also recently weighed in on SHAK. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $125.00 to $159.00 in a research report on Tuesday. TD Cowen restated a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $102.00 target price (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Finally, Truist Financial increased their price objective on shares of Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $118.94.

Shake Shack Trading Down 1.0 %

Shares of SHAK opened at $132.07 on Tuesday. The stock’s fifty day simple moving average is $129.23 and its 200 day simple moving average is $109.27. Shake Shack has a twelve month low of $64.16 and a twelve month high of $139.89. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $5.61 billion, a P/E ratio of 776.88, a price-to-earnings-growth ratio of 2.83 and a beta of 1.86.

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

Insider Buying and Selling

In other news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the transaction, the chief financial officer now directly owns 30,717 shares in the company, valued at $4,223,894.67. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel Harris Meyer sold 22,691 shares of Shake Shack stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the sale, the director now directly owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. This trade represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,333 shares of company stock worth $6,566,330 over the last three months. 9.73% of the stock is currently owned by company insiders.

Institutional Trading of Shake Shack

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Shake Shack in the third quarter worth $41,000. Quest Partners LLC acquired a new position in Shake Shack in the second quarter valued at about $38,000. Kimelman & Baird LLC acquired a new stake in shares of Shake Shack during the second quarter worth about $45,000. Covestor Ltd lifted its holdings in shares of Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after purchasing an additional 205 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Shake Shack by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $96,000 after purchasing an additional 265 shares during the period. 86.07% of the stock is 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.