Truist Financial Issues Positive Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its price objective increased by Truist Financial from $143.00 to $154.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently commented on SHAK. Stifel Nicolaus reduced their target price on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a report on Friday, January 17th. Wedbush raised their target price on Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday. Oppenheimer lifted their target price on Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. 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. Finally, UBS Group lifted their price objective on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $125.50.

Shake Shack Stock Performance

SHAK stock opened at $108.96 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. Shake Shack has a 1 year low of $77.50 and a 1 year high of $139.89. The company has a market cap of $4.63 billion, a P/E ratio of 640.94 and a beta of 1.86. The stock’s fifty day moving average price is $121.79 and its 200-day moving average price is $116.27.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01. The business had revenue of $328.68 million for the quarter, compared to analysts’ expectations of $329.02 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. On average, equities analysts forecast that Shake Shack will post 0.9 earnings per share for the current year.

Insider Buying and Selling at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the sale, the chief financial officer now owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Hedge funds have recently added to or reduced their stakes in the company. Nemes Rush Group LLC bought a new stake in Shake Shack in the fourth quarter worth about $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of Shake Shack during the fourth quarter valued at approximately $32,000. Transcendent Capital Group LLC purchased a new stake in shares of Shake Shack in the fourth quarter worth approximately $52,000. R Squared Ltd bought a new stake in shares of Shake Shack during the 4th quarter worth approximately $56,000. Finally, Montag & Caldwell LLC purchased a new position in Shake Shack during the 4th quarter valued at $68,000. 86.07% of the stock is currently owned by institutional investors.

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.