Shake Shack Inc. (NYSE:SHAK) Receives $123.78 Consensus PT from Brokerages

Shake Shack Inc. (NYSE:SHAK) has earned an average rating of “Hold” from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $124.29.

Several brokerages have issued reports on SHAK. Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a report on Wednesday, January 8th. Wedbush reiterated a “neutral” rating and set a $130.00 price objective on shares of Shake Shack in a research note on Wednesday, January 15th. Oppenheimer boosted their price objective on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Stifel Nicolaus dropped their target price on Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday, January 17th. Finally, Truist Financial reduced their price target on Shake Shack from $149.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th.

Shake Shack Price Performance

Shares of SHAK stock opened at $108.68 on Thursday. Shake Shack has a twelve month low of $77.50 and a twelve month high of $139.89. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $123.84 and a two-hundred day simple moving average of $115.77. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 639.27 and a beta of 1.86.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 642 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction 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 $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Shake Shack

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Shake Shack by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock worth $574,497,000 after acquiring an additional 49,883 shares during the period. State Street Corp lifted its stake in shares of Shake Shack by 3.5% in the 3rd quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after purchasing an additional 49,324 shares during the period. Invesco Ltd. boosted its holdings in Shake Shack by 30.7% during the fourth quarter. Invesco Ltd. now owns 1,245,093 shares of the company’s stock worth $161,613,000 after buying an additional 292,348 shares in the last quarter. Holocene Advisors LP grew its position in Shake Shack by 68.3% during the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after buying an additional 384,131 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Shake Shack by 3.1% in the third quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock valued at $90,470,000 after buying an additional 26,620 shares in the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

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.