Shake Shack, Inc. (NYSE:SHAK) Stock Has Average Price Target of $87.00 According to Brokerages

Shares of Shake Shack, Inc. (NYSE:SHAK) have earned a consensus rating of “Moderate Buy” from the twenty-eight brokerages that are covering the company, MarketBeat reports. Twelve investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $87.00.

Several analysts have commented on SHAK shares. TD Cowen reaffirmed a “hold” rating on shares of Shake Shack in a research note on Wednesday, August 5th. Zacks Research upgraded shares of Shake Shack from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. reduced their target price on shares of Shake Shack from $77.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 29th. Robert W. Baird raised Shake Shack to a “hold” rating in a report on Monday, August 24th. Finally, Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Shake Shack in a report on Thursday, October 15th.

Shake Shack Stock Performance

Shares of SHAK stock opened at $72.41 on Friday. The stock has a 50 day simple moving average of $65.21 and a 200-day simple moving average of $74.94. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 77.03, a price-to-earnings-growth ratio of 7.20 and a beta of 1.68. Shake Shack has a 12-month low of $51.60 and a 12-month high of $107.46.

Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, August 5th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.12. The company had revenue of $417.62 million for the quarter, compared to analyst estimates of $417.18 million. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%. Shake Shack’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. On average, equities analysts forecast that Shake Shack will post 1.13 EPS for the current year.

Institutional Investors Weigh In On Shake Shack

Institutional investors have recently made changes to their positions in the company. Covestor Ltd lifted its stake in Shake Shack by 94.0% in the third quarter. Covestor Ltd now owns 1,426 shares of the company’s stock valued at $84,000 after buying an additional 691 shares during the last quarter. Hedeker Wealth LLC grew its position in shares of Shake Shack by 1.3% during the third quarter. Hedeker Wealth LLC now owns 51,413 shares of the company’s stock worth $3,017,000 after acquiring an additional 661 shares during the last quarter. Wedbush Securities Inc. increased its holdings in shares of Shake Shack by 269.6% in the 3rd quarter. Wedbush Securities Inc. now owns 14,520 shares of the company’s stock worth $852,000 after acquiring an additional 10,591 shares during the period. Sterling Capital Management LLC increased its holdings in shares of Shake Shack by 838.8% in the 3rd quarter. Sterling Capital Management LLC now owns 1,305 shares of the company’s stock worth $77,000 after acquiring an additional 1,166 shares during the period. Finally, Root Financial Partners LLC bought a new stake in Shake Shack in the 3rd quarter valued at about $31,000. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Company Profile

Shake Shack Inc operates a fast-casual restaurant chain known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, milkshakes and beverages. Its menu also includes vegetarian and other specialty items, with offerings varying by location. The company emphasizes hospitality, quality ingredients and restaurant designs intended to support both dine-in and takeout service.

The business began as a temporary hot dog cart in Madison Square Park in New York City in 2001 and opened its first permanent restaurant there in 2004.