Shake Shack (NYSE:SHAK) Price Target Raised to $140.00

Shake Shack (NYSE:SHAK) had its target price hoisted by UBS Group from $130.00 to $140.00 in a research report report published on Tuesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

SHAK has been the subject of several other reports. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $125.00 to $159.00 in a report on Tuesday. Truist Financial boosted their price objective on shares of Shake Shack from $144.00 to $147.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $102.00 target price (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Oppenheimer boosted their price target on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, TD Cowen reaffirmed a “buy” rating and set a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.59.

Shake Shack Stock Performance

Shake Shack stock opened at $132.62 on Tuesday. The stock’s 50 day moving average is $129.82 and its 200 day moving average is $109.73. The company 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. Shake Shack has a twelve month low of $64.16 and a twelve 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.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. On average, equities research analysts predict that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insider Activity at Shake Shack

In other news, Director Daniel Harris Meyer sold 22,691 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the sale, the director now directly owns 437,646 shares in the company, valued at $54,473,797.62. This represents a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction on 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 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 ninety days, insiders sold 53,333 shares of company stock worth $6,566,330. 9.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SHAK. Quest Partners LLC bought a new stake in Shake Shack during the 2nd quarter worth approximately $38,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Shake Shack in the third quarter worth $41,000. Kimelman & Baird LLC purchased a new stake in shares of Shake Shack in the second quarter worth $45,000. Covestor Ltd raised its position in shares of Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after purchasing an additional 205 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Shake Shack by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $96,000 after buying an additional 265 shares in the last quarter. 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.