Shake Shack (NYSE:SHAK) Receives “Buy” Rating from TD Cowen

TD Cowen restated their buy rating on shares of Shake Shack (NYSE:SHAK) in a research note issued to investors on Wednesday, Benzinga reports. TD Cowen currently has a $125.00 target price on the stock.

SHAK has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on Shake Shack from $102.00 to $105.00 and gave the stock an underweight rating in a research report on Monday, June 3rd. Robert W. Baird increased their target price on Shake Shack from $93.00 to $105.00 and gave the company a neutral rating in a research report on Friday, August 2nd. Capital One Financial assumed coverage on shares of Shake Shack in a report on Monday, July 29th. They issued an overweight rating and a $95.00 price target for the company. Morgan Stanley decreased their price objective on shares of Shake Shack from $108.00 to $100.00 and set an equal weight rating on the stock in a report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a hold rating and set a $115.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Shake Shack presently has a consensus rating of Hold and an average price target of $107.56.

Shake Shack Trading Up 1.4 %

Shares of NYSE:SHAK opened at $103.91 on Wednesday. The company has a market capitalization of $4.40 billion, a PE ratio of 188.93, a PEG ratio of 3.02 and a beta of 1.83. Shake Shack has a 12-month low of $52.79 and a 12-month high of $111.29. The business has a 50 day moving average of $96.01 and a two-hundred day moving average of $97.31. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $316.50 million during the quarter, compared to analysts’ expectations of $314.37 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. As a group, analysts forecast that Shake Shack will post 0.73 EPS for the current year.

Insider Buying and Selling at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total transaction of $31,640.97. Following the completion of the sale, the chief financial officer now directly owns 36,822 shares of the company’s stock, valued at approximately $3,629,544.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the transaction, the director now directly owns 470,437 shares in the company, valued at $51,860,974.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total value of $31,640.97. Following the completion of the sale, the chief financial officer now directly owns 36,822 shares of the company’s stock, valued at $3,629,544.54. The disclosure for this sale can be found here. Insiders have sold 12,213 shares of company stock worth $1,311,175 over the last quarter. 9.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shake Shack

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Shake Shack by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock worth $72,088,000 after purchasing an additional 66,090 shares during the period. Armistice Capital LLC grew its stake in shares of Shake Shack by 69.1% in the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after acquiring an additional 236,950 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after acquiring an additional 273,822 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Shake Shack by 41.9% during the second quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after acquiring an additional 129,200 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Shake Shack by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,641 shares of the company’s stock valued at $22,951,000 after acquiring an additional 12,362 shares in the last quarter. 86.07% of the stock is currently owned by hedge funds and other 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.