Shake Shack’s (SHAK) “Neutral” Rating Reaffirmed at Wedbush

Shake Shack (NYSE:SHAK)‘s stock had its “neutral” rating reiterated by Wedbush in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $130.00 target price on the stock. Wedbush’s target price suggests a potential upside of 9.65% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus increased their price target on shares of Shake Shack from $115.00 to $128.00 and gave the company a “hold” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. UBS Group upped their price objective on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Truist Financial decreased their price target on shares of Shake Shack from $149.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Gordon Haskett upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $124.78.

Shake Shack Stock Performance

Shares of SHAK opened at $118.56 on Wednesday. Shake Shack has a one year low of $64.16 and a one year high of $139.89. The stock has a 50-day moving average of $129.92 and a 200-day moving average of $110.92. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The company has a market cap of $5.04 billion, a PE ratio of 697.41, a P/E/G ratio of 2.83 and a beta of 1.86.

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

Insider Activity at Shake Shack

In related news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the transaction, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. This trade represents a 6.85 % decrease in their position. 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 642 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares in the company, valued at $4,223,894.67. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,333 shares of company stock worth $6,566,330 over the last quarter. Corporate insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

A number of hedge funds have recently bought and sold shares of the business. Xponance Inc. increased its position in shares of Shake Shack by 4.5% during the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock valued at $216,000 after purchasing an additional 103 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Shake Shack by 0.4% in the 3rd 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 boosted its stake in Shake Shack by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock worth $1,612,000 after purchasing an additional 187 shares during the period. Glenmede Trust Co. NA grew its holdings in 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. Finally, Covestor Ltd raised its position in shares of Shake Shack by 41.6% during the third quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after buying an additional 205 shares during the last quarter. Hedge funds and other 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.