Shake Shack (NYSE:SHAK) Upgraded at Gordon Haskett

Gordon Haskett upgraded shares of Shake Shack (NYSE:SHAK) from a hold rating to a buy rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $154.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 target price (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Barclays upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $159.00 in a research note on Tuesday. UBS Group upped their price objective on Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday. Truist Financial raised their price target 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. Finally, TD Cowen restated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $122.89.

Shake Shack Trading Down 3.2 %

Shares of NYSE SHAK opened at $128.61 on Wednesday. The business’s 50 day moving average price is $130.04 and its 200-day moving average price is $109.89. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 756.53, 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 fifty-two week low of $64.16 and a fifty-two week high of $139.89.

Shake Shack (NYSE:SHAK) last announced 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. The company had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. On average, sell-side analysts expect that Shake Shack will post 0.82 earnings per share for the current year.

Insiders Place Their Bets

In other Shake Shack 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 transaction of $2,824,348.77. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $88,281.42. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 53,333 shares of company stock valued at $6,566,330 in the last three months. 9.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Shake Shack

A number of hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC raised its position in Shake Shack by 303.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock valued at $1,460,000 after purchasing an additional 12,487 shares in the last quarter. Fisher Asset Management LLC raised its stake in Shake Shack by 4.8% in the third quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock valued at $36,548,000 after buying an additional 16,097 shares in the last quarter. GDS Wealth Management acquired a new position in shares of Shake Shack during the 3rd quarter worth about $417,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Shake Shack by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 353,501 shares of the company’s stock valued at $36,485,000 after acquiring an additional 24,813 shares during the last quarter. Finally, FMR LLC raised its position in shares of Shake Shack by 3.6% during the 3rd quarter. FMR LLC now owns 243,549 shares of the company’s stock worth $25,137,000 after acquiring an additional 8,512 shares in the last quarter. 86.07% of the stock is currently 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.