Piper Jaffray Companies Trims Shake Shack (NYSE:SHAK) Target Price to $97.00

Shake Shack (NYSE:SHAK) had its price objective decreased by Piper Jaffray Companies from $109.00 to $97.00 in a research report sent to investors on Tuesday morning, The Fly reports. Piper Jaffray Companies currently has an overweight rating on the stock. Piper Jaffray Companies also issued estimates for Shake Shack’s Q4 2019 earnings at $0.02 EPS, FY2019 earnings at $0.68 EPS, Q2 2020 earnings at $0.28 EPS, Q3 2020 earnings at $0.23 EPS, Q4 2020 earnings at $0.05 EPS, FY2020 earnings at $0.69 EPS and FY2021 earnings at $0.89 EPS.

Other equities research analysts have also issued research reports about the company. Credit Suisse Group raised their price objective on Shake Shack from $77.00 to $83.00 and gave the company an outperform rating in a research note on Tuesday, August 6th. MKM Partners began coverage on Shake Shack in a research note on Tuesday, August 13th. They set a neutral rating and a $75.00 price objective for the company. Goldman Sachs Group began coverage on Shake Shack in a research note on Monday, July 29th. They set a buy rating and a $95.00 price objective for the company. Deutsche Bank began coverage on Shake Shack in a research note on Monday, September 30th. They set a hold rating and a $90.00 price objective for the company. Finally, Zacks Investment Research lowered Shake Shack from a buy rating to a hold rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $75.99.

Shares of NYSE:SHAK traded down $0.94 during mid-day trading on Tuesday, hitting $62.06. 2,254,500 shares of the company traded hands, compared to its average volume of 888,934. The firm has a market cap of $2.49 billion, a P/E ratio of 87.41, a PEG ratio of 4.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.08 and a current ratio of 1.04. Shake Shack has a 52-week low of $40.67 and a 52-week high of $105.84. The firm’s 50 day simple moving average is $89.51 and its 200 day simple moving average is $78.98.

Shake Shack (NYSE:SHAK) last announced its earnings results on Monday, November 4th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. Shake Shack had a return on equity of 9.50% and a net margin of 3.69%. The business had revenue of $157.76 million for the quarter, compared to the consensus estimate of $157.45 million. During the same period last year, the business posted $0.21 EPS. The company’s revenue was up 31.9% on a year-over-year basis. Equities research analysts expect that Shake Shack will post 0.65 EPS for the current fiscal year.

In other news, CEO Randall J. Garutti sold 30,000 shares of Shake Shack stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $82.54, for a total value of $2,476,200.00. Following the completion of the transaction, the chief executive officer now owns 60,702 shares in the company, valued at approximately $5,010,343.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Flug sold 8,794 shares of Shake Shack stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $90.31, for a total value of $794,186.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,919 shares of company stock valued at $18,057,001. Insiders own 21.85% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. North Star Investment Management Corp. acquired a new position in Shake Shack during the 3rd quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC boosted its position in Shake Shack by 600.0% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 350 shares of the company’s stock valued at $34,000 after purchasing an additional 300 shares during the period. Captrust Financial Advisors acquired a new position in Shake Shack during the 2nd quarter valued at approximately $42,000. Russell Investments Group Ltd. acquired a new position in Shake Shack during the 3rd quarter valued at approximately $82,000. Finally, Kistler Tiffany Companies LLC acquired a new position in Shake Shack during the 2nd quarter valued at approximately $68,000. Institutional investors own 84.64% of the company’s stock.

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.

Read More: How to use beta for portfolio diversification

The Fly

Analyst Recommendations for Shake Shack (NYSE:SHAK)

Receive News & Ratings for Shake Shack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shake Shack and related companies with MarketBeat.com's FREE daily email newsletter.