Shake Shack (NYSE:SHAK) Cut to “Hold” at TD Cowen

TD Cowen cut shares of Shake Shack (NYSE:SHAK) from a buy rating to a hold rating in a research report sent to investors on Monday, Marketbeat reports. TD Cowen currently has $105.00 target price on the stock.

A number of other research analysts have also recently issued reports on SHAK. Robert W. Baird lifted their price objective on Shake Shack from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Oppenheimer cut their price objective on Shake Shack from $155.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Raymond James reissued a “strong-buy” rating and set a $140.00 price objective (down from $145.00) on shares of Shake Shack in a report on Friday, May 2nd. UBS Group cut their price objective on Shake Shack from $140.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Finally, Barclays cut their price objective on Shake Shack from $155.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $113.40.

Shake Shack Stock Down 2.5%

Shares of NYSE SHAK opened at $114.34 on Monday. The stock has a market cap of $4.88 billion, a PE ratio of 497.11 and a beta of 1.61. The business has a fifty day moving average of $93.03 and a two-hundred day moving average of $111.05. Shake Shack has a 52-week low of $72.93 and a 52-week high of $139.89. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $320.90 million for the quarter, compared to the consensus estimate of $330.24 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 earnings per share. As a group, equities research analysts expect that Shake Shack will post 1.26 earnings per share for the current fiscal year.

Institutional Trading of Shake Shack

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nemes Rush Group LLC acquired a new stake in Shake Shack in the fourth quarter worth about $29,000. Harvest Fund Management Co. Ltd acquired a new stake in Shake Shack in the fourth quarter worth about $32,000. Farther Finance Advisors LLC increased its position in Shake Shack by 939.3% in the first quarter. Farther Finance Advisors LLC now owns 291 shares of the company’s stock worth $26,000 after purchasing an additional 263 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Shake Shack in the first quarter worth about $26,000. Finally, Transcendent Capital Group LLC acquired a new stake in Shake Shack in the fourth quarter worth about $52,000. 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.