Shake Shack (NYSE:SHAK) Price Target Raised to $147.00

Shake Shack (NYSE:SHAK) had its target price increased by Truist Financial from $144.00 to $147.00 in a report released on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

SHAK has been the topic of a number of other reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $102.00 price objective (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Barclays upped their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $115.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. Oppenheimer upped their target price on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, TD Cowen reiterated a “buy” rating and set a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Shake Shack presently has a consensus rating of “Hold” and a consensus target price of $115.56.

Shake Shack Price Performance

Shares of SHAK opened at $128.87 on Thursday. The business’s fifty day moving average is $124.46 and its 200 day moving average is $106.01. Shake Shack has a 12-month low of $64.16 and a 12-month high of $139.89. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The stock has a market cap of $5.47 billion, a P/E ratio of 758.06, a P/E/G ratio of 2.83 and a beta of 1.85.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. During the same period last year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. Sell-side analysts anticipate that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insider Transactions at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the transaction, the chief financial officer now owns 30,717 shares in the company, valued at $4,223,894.67. This trade represents a 2.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $110.08, for a total value of $1,100,800.00. Following the sale, the director now owns 460,337 shares in the company, valued at approximately $50,673,896.96. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,754 shares of company stock worth $7,711,497 over the last quarter. Corporate insiders own 9.73% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Xponance Inc. lifted its stake in Shake Shack by 4.5% during the second quarter. Xponance Inc. now owns 2,395 shares of the company’s stock worth $216,000 after purchasing an additional 103 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Shake Shack by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock valued at $3,241,000 after buying an additional 139 shares in the last quarter. Brighton Jones LLC lifted its position 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 buying an additional 187 shares during the last quarter. Arizona State Retirement System boosted its stake in Shake Shack by 1.9% in the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock worth $945,000 after buying an additional 196 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in Shake Shack by 1.5% in the third quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock worth $1,372,000 after buying an additional 199 shares in the last quarter. 86.07% of the stock is currently owned by 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.