Oppenheimer Forecasts Strong Price Appreciation for Shake Shack (NYSE:SHAK) Stock

Shake Shack (NYSE:SHAK) had its target price raised by stock analysts at Oppenheimer from $145.00 to $155.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 16.88% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $125.00 to $159.00 in a research report on Tuesday. TD Cowen reaffirmed a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 price target (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Finally, Truist Financial raised their price objective on Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $122.59.

Shake Shack Stock Up 0.4 %

Shares of NYSE SHAK opened at $132.62 on Tuesday. The stock has a market capitalization of $5.63 billion, a P/E ratio of 780.12, a PEG ratio of 2.83 and a beta of 1.86. 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 $64.16 and a 52 week high of $139.89. The stock’s fifty day moving average is $129.82 and its 200 day moving average is $109.73.

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

Insider Buying and Selling at Shake Shack

In related news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the transaction, the director now owns 407,646 shares in the company, valued at $49,647,206.34. The trade was a 6.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,333 shares of company stock valued at $6,566,330. 9.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Shake Shack

Hedge funds and other institutional investors have recently made changes to their positions in the business. Xponance Inc. boosted its stake in Shake Shack by 4.5% during the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock valued at $216,000 after purchasing an additional 103 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Shake Shack by 0.4% during the third 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 during the last quarter. Brighton Jones LLC grew its holdings in Shake Shack by 1.1% during the second quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock worth $1,612,000 after buying an additional 187 shares in the last quarter. Arizona State Retirement System raised its position in Shake Shack by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after buying an additional 196 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in Shake Shack by 1.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock valued at $1,372,000 after acquiring an additional 199 shares in the last quarter. 86.07% of the stock is 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.