Shake Shack (NYSE:SHAK) Upgraded at Barclays

Barclays upgraded shares of Shake Shack (NYSE:SHAK) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $159.00 target price on the stock, up from their prior target price of $125.00.

A number of other research analysts have also issued reports on the company. Oppenheimer increased their target price on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Truist Financial increased their price objective on shares of Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a report on Thursday, December 19th. TD Cowen reissued a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reaffirmed 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Shake Shack presently has an average rating of “Hold” and an average target price of $122.59.

Shake Shack Stock Up 0.4 %

SHAK stock opened at $132.62 on Tuesday. Shake Shack has a one year low of $64.16 and a one year high of $139.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The firm’s fifty day moving average is $129.82 and its 200 day moving average is $109.73. The firm has a market cap of $5.63 billion, a PE ratio of 780.12, a P/E/G ratio of 2.83 and a beta of 1.86.

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

Insider Activity

In other news, Director Daniel Harris Meyer sold 22,691 shares of Shake Shack stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the sale, the director now owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 642 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were 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 represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 Trading of Shake Shack

A number of hedge funds and other institutional investors have recently modified their holdings of SHAK. Nordea Investment Management AB lifted its position in Shake Shack by 4.3% in the fourth quarter. Nordea Investment Management AB now owns 76,884 shares of the company’s stock valued at $10,049,000 after buying an additional 3,186 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Shake Shack by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $96,000 after acquiring an additional 265 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Shake Shack by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 189,229 shares of the company’s stock worth $19,530,000 after acquiring an additional 2,043 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Shake Shack in the 3rd quarter worth approximately $249,000. Finally, Neo Ivy Capital Management acquired a new stake in Shake Shack in the 3rd quarter valued at approximately $142,000. 86.07% of the stock is owned by institutional investors and hedge funds.

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.