Shake Shack (NYSE:SHAK) Given New $160.00 Price Target at Truist Financial

Shake Shack (NYSE:SHAK) had its price target lifted by Truist Financial from $150.00 to $160.00 in a research note released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on SHAK. Sanford C. Bernstein set a $166.00 target price on shares of Shake Shack and gave the stock an “overweight” rating in a report on Thursday, June 26th. Loop Capital reissued a “hold” rating and set a $127.00 price objective on shares of Shake Shack in a report on Tuesday. Oppenheimer reissued an “outperform” rating and set a $160.00 price objective (up from $125.00) on shares of Shake Shack in a report on Thursday, June 26th. JPMorgan Chase & Co. boosted their price objective on shares of Shake Shack from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday, June 25th. Finally, Stifel Nicolaus decreased their price objective on shares of Shake Shack from $120.00 to $97.00 and set a “hold” rating for the company in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $124.90.

Shake Shack Trading Up 1.0%

Shares of NYSE SHAK opened at $140.52 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.91 and a quick ratio of 1.88. The stock has a market cap of $6.00 billion, a P/E ratio of 501.86, a price-to-earnings-growth ratio of 3.29 and a beta of 1.77. Shake Shack has a 1 year low of $72.93 and a 1 year high of $142.85. The firm has a 50-day moving average of $123.87 and a 200 day moving average of $111.34.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm had revenue of $320.90 million during the quarter, compared to analysts’ expectations of $330.24 million. Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm posted $0.13 earnings per share. As a group, sell-side analysts expect that Shake Shack will post 1.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 14,200 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $140.31, for a total value of $1,992,402.00. Following the sale, the director owned 337,984 shares of the company’s stock, valued at approximately $47,422,535.04. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 670 shares of the company’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $140.03, for a total transaction of $93,820.10. Following the completion of the transaction, the chief financial officer owned 32,495 shares in the company, valued at approximately $4,550,274.85. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,391 shares of company stock worth $11,869,925. 9.73% of the stock is owned by insiders.

Institutional Trading of Shake Shack

Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of Shake Shack by 939.3% in the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company’s stock valued at $26,000 after buying an additional 263 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Shake Shack in the 1st quarter valued at about $26,000. Nemes Rush Group LLC purchased a new position in shares of Shake Shack in the 4th quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Shake Shack in the 4th quarter valued at approximately $32,000. Finally, Garde Capital Inc. acquired a new stake in Shake Shack in the 1st quarter worth approximately $35,000. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Company Profile

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.