Shake Shack (NYSE:SHAK) has been assigned a $84.00 price target by research analysts at Wedbush in a research note issued to investors on Friday, TipRanks reports. The firm presently has a “hold” rating on the stock. Wedbush’s price objective would suggest a potential upside of 2.95% from the stock’s previous close.
SHAK has been the subject of several other research reports. Barclays lifted their price objective on shares of Shake Shack from $58.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Stifel Nicolaus lifted their price objective on shares of Shake Shack from $65.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, September 17th. MKM Partners started coverage on shares of Shake Shack in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $75.00 price objective for the company. Piper Jaffray Companies restated an “overweight” rating and issued a $109.00 target price (up from $105.00) on shares of Shake Shack in a research report on Thursday, September 5th. Finally, ValuEngine cut shares of Shake Shack from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $82.38.
Shake Shack stock traded down $3.13 during midday trading on Friday, hitting $81.59. The company’s stock had a trading volume of 29,393 shares, compared to its average volume of 657,219. Shake Shack has a 1-year low of $40.67 and a 1-year high of $105.84. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.10 and a quick ratio of 1.08. The company has a 50-day moving average price of $96.08 and a two-hundred day moving average price of $77.71. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 115.15, a PEG ratio of 5.19 and a beta of 1.27.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Shake Shack had a net margin of 2.96% and a return on equity of 9.01%. The business had revenue of $152.71 million during the quarter, compared to analysts’ expectations of $149.77 million. During the same quarter in the previous year, the company earned $0.29 EPS. The business’s revenue was up 31.3% on a year-over-year basis. Sell-side analysts forecast that Shake Shack will post 0.65 EPS for the current year.
In related news, Director Daniel Harris Meyer sold 25,000 shares of Shake Shack stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $75.50, for a total transaction of $1,887,500.00. Following the sale, the director now directly owns 1,411 shares of the company’s stock, valued at approximately $106,530.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tara Comonte sold 9,500 shares of Shake Shack stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $84.64, for a total transaction of $804,080.00. Following the sale, the insider now directly owns 59,340 shares in the company, valued at $5,022,537.60. The disclosure for this sale can be found here. Insiders sold a total of 255,406 shares of company stock valued at $23,752,286 over the last 90 days. Corporate insiders own 21.85% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System grew its holdings in shares of Shake Shack by 89.0% during the 3rd quarter. New York State Teachers Retirement System now owns 38,019 shares of the company’s stock valued at $3,727,000 after purchasing an additional 17,900 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Shake Shack by 16.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the company’s stock valued at $1,108,000 after purchasing an additional 1,600 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Shake Shack by 12.2% during the 3rd quarter. Rhumbline Advisers now owns 86,498 shares of the company’s stock valued at $8,480,000 after purchasing an additional 9,409 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Shake Shack during the 3rd quarter valued at approximately $2,980,000. Finally, Bridge City Capital LLC grew its holdings in shares of Shake Shack by 27.7% during the 3rd quarter. Bridge City Capital LLC now owns 46,023 shares of the company’s stock valued at $4,512,000 after purchasing an additional 9,988 shares during the last quarter. 84.66% of the stock is currently 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, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.
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