Shake Shack (NYSE:SHAK) had its price target increased by Morgan Stanley from $46.00 to $69.00 in a research report released on Wednesday, Analyst Ratings Network reports. They currently have an equal weight rating on the stock.
Several other equities analysts have also issued reports on the stock. Wedbush raised shares of Shake Shack from a neutral rating to an outperform rating and lifted their price target for the stock from $53.00 to $77.00 in a report on Thursday, August 20th. TheStreet lowered shares of Shake Shack from a c- rating to a d+ rating in a report on Tuesday, August 11th. Loop Capital began coverage on shares of Shake Shack in a report on Thursday, October 1st. They issued a buy rating and a $78.00 price target on the stock. Credit Suisse Group lifted their price target on shares of Shake Shack from $48.00 to $52.00 and gave the stock a neutral rating in a report on Friday, July 31st. Finally, MKM Partners cut their price target on shares of Shake Shack from $59.00 to $54.00 and set a neutral rating on the stock in a report on Friday, July 10th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $60.21.
Shares of NYSE:SHAK opened at $70.27 on Wednesday. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -334.62 and a beta of 1.72. Shake Shack has a 52 week low of $30.01 and a 52 week high of $94.00. The firm has a 50 day moving average of $67.71 and a 200 day moving average of $55.08.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.08). Shake Shack had a negative return on equity of 1.40% and a negative net margin of 1.64%. The business had revenue of $91.79 million during the quarter, compared to the consensus estimate of $93.29 million. As a group, equities analysts anticipate that Shake Shack will post -0.77 earnings per share for the current fiscal year.
In other Shake Shack news, CFO Tara Comonte sold 8,957 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $66.14, for a total value of $592,415.98. Following the sale, the chief financial officer now directly owns 63,217 shares of the company’s stock, valued at $4,181,172.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 23,334 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $55.03, for a total transaction of $1,284,070.02. Following the completion of the sale, the director now directly owns 1,364 shares in the company, valued at $75,060.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 256,916 shares of company stock worth $16,649,491. 14.98% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new position in shares of Shake Shack in the second quarter worth about $47,000. Cornerstone Advisors Inc. acquired a new position in shares of Shake Shack in the second quarter worth about $75,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Shake Shack in the second quarter worth about $75,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Shake Shack in the second quarter worth about $79,000. Finally, Exane Derivatives acquired a new position in shares of Shake Shack in the third quarter worth about $80,000. Institutional investors and hedge funds own 92.25% 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.
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