Shake Shack Inc. (NYSE:SHAK) Receives $123.78 Average Target Price from Brokerages

Shake Shack Inc. (NYSE:SHAK) has been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $123.78.

Several analysts recently issued reports on SHAK shares. Truist Financial reduced their price target on shares of Shake Shack from $149.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Oppenheimer lifted their target price on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. UBS Group boosted their price target on shares of Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Stifel Nicolaus decreased their target price on Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, January 17th. Finally, Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $125.00 to $159.00 in a research report on Tuesday, January 7th.

Insider Buying and Selling

In other news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the transaction, the chief financial officer now directly owns 30,717 shares in the company, valued at approximately $4,223,894.67. This represents a 2.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the completion of the sale, the director now owns 407,646 shares in the company, valued at $49,647,206.34. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,333 shares of company stock valued at $6,566,330. Company insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Several institutional investors have recently bought and sold shares of the business. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Shake Shack in the 3rd quarter valued at about $41,000. Kimelman & Baird LLC purchased a new position in shares of Shake Shack in the 2nd quarter worth approximately $45,000. R Squared Ltd bought a new position in shares of Shake Shack during the 4th quarter valued at approximately $56,000. Covestor Ltd lifted its position in Shake Shack by 41.6% in the third quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after buying an additional 205 shares during the last quarter. Finally, Quest Partners LLC lifted its position in Shake Shack by 76.1% in the third quarter. Quest Partners LLC now owns 752 shares of the company’s stock worth $78,000 after buying an additional 325 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Down 2.0 %

Shares of NYSE SHAK opened at $118.86 on Friday. The company’s 50 day moving average price is $128.23 and its 200-day moving average price is $112.55. 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 has a 52-week low of $71.39 and a 52-week high of $139.89. The company has a market capitalization of $5.05 billion, a P/E ratio of 699.15, a price-to-earnings-growth ratio of 1.67 and a beta of 1.86.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 EPS. Equities analysts forecast that Shake Shack will post 0.89 earnings per share for the current year.

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.