Truist Financial Has Lowered Expectations for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its price objective decreased by investment analysts at Truist Financial from $149.00 to $143.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 21.33% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Stifel Nicolaus raised their target price on Shake Shack from $115.00 to $128.00 and gave the company a “hold” rating in a report on Friday. Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research note on Wednesday, January 8th. UBS Group lifted their price target on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, TD Cowen reiterated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $122.56.

Shake Shack Stock Down 3.1 %

Shake Shack stock traded down $3.73 during trading hours on Tuesday, hitting $117.86. The stock had a trading volume of 349,823 shares, compared to its average volume of 1,257,284. Shake Shack has a 12-month low of $64.16 and a 12-month high of $139.89. The stock has a market capitalization of $5.01 billion, a P/E ratio of 693.29, a price-to-earnings-growth ratio of 2.83 and a beta of 1.86. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average price is $130.09 and its 200-day moving average price is $110.72.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. During the same period last year, the company posted $0.17 EPS. The business’s revenue was up 14.7% on a year-over-year basis. Equities research analysts anticipate that Shake Shack will post 0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 of the company’s stock, valued at $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 22,691 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77. Following the transaction, the director now owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,333 shares of company stock worth $6,566,330. 9.73% of the stock is currently owned by insiders.

Institutional Trading of Shake Shack

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Shake Shack by 3.5% during the 3rd quarter. State Street Corp now owns 1,452,736 shares of the company’s stock worth $149,937,000 after buying an additional 49,324 shares in the last quarter. Holocene Advisors LP raised its stake in shares of Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after purchasing an additional 384,131 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Shake Shack by 3.1% in the third quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock worth $90,470,000 after purchasing an additional 26,620 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Shake Shack by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock worth $72,088,000 after acquiring an additional 66,090 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in Shake Shack by 154.8% during the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after acquiring an additional 395,311 shares during the period. Institutional investors own 86.07% 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, 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.