Shake Shack (NYSE:SHAK) Receives Underweight Rating from JPMorgan Chase & Co.

Shake Shack (NYSE:SHAK)‘s stock had its “underweight” rating restated by investment analysts at JPMorgan Chase & Co. in a research report issued on Tuesday, Benzinga reports. They presently have a $102.00 price objective on the stock, down from their previous price objective of $105.00. JPMorgan Chase & Co.‘s price objective points to a potential downside of 3.38% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. Truist Financial reiterated a “buy” rating and issued a $127.00 price target on shares of Shake Shack in a report on Wednesday, August 28th. Wedbush restated a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a research report on Thursday, August 1st. Morgan Stanley cut their price target on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $121.00 to $114.00 in a report on Monday, August 19th. Finally, Bank of America raised their target price on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $107.39.

Shake Shack Trading Down 0.9 %

Shares of Shake Shack stock traded down $1.00 on Tuesday, hitting $105.57. 11,942 shares of the company traded hands, compared to its average volume of 926,580. Shake Shack has a 52 week low of $52.79 and a 52 week high of $111.29. The company has a market cap of $4.47 billion, a PE ratio of 191.95, a PEG ratio of 3.02 and a beta of 1.83. The stock’s 50 day moving average price is $97.70 and its 200-day moving average price is $97.42. 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 issued its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The business had revenue of $316.50 million during the quarter, compared to analysts’ expectations of $314.37 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 EPS. Equities research analysts predict that Shake Shack will post 0.73 EPS for the current year.

Insider Activity

In other news, Director Jeffrey Flug sold 304 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $90.39, for a total transaction of $27,478.56. Following the completion of the transaction, the director now directly owns 3,347 shares of the company’s stock, valued at approximately $302,535.33. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $90.39, for a total transaction of $27,478.56. Following the transaction, the director now directly owns 3,347 shares in the company, valued at $302,535.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total transaction of $31,640.97. Following the sale, the chief financial officer now 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 valued at $1,311,175 in the last ninety days. 9.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Shake Shack during the 1st quarter worth about $25,000. Quest Partners LLC purchased a new position in Shake Shack in the 2nd quarter valued at about $38,000. Kimelman & Baird LLC acquired a new stake in shares of Shake Shack during the second quarter valued at about $45,000. Covestor Ltd increased its position in shares of Shake Shack by 32,150.0% during the first quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Shake Shack in the first quarter worth about $97,000. 86.07% of the stock is 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.