Shake Shack, Inc. (NYSE:SHAK) Receives $107.92 Average Price Target from Brokerages

by · The Cerbat Gem

Shares of Shake Shack, Inc. (NYSE:SHAK – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $107.0833.

SHAK has been the subject of a number of recent research reports. Barclays lowered their price target on shares of Shake Shack from $118.00 to $96.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating on shares of Shake Shack in a research note on Friday, May 8th. Truist Financial lifted their target price on shares of Shake Shack from $144.00 to $148.00 and gave the company a “buy” rating in a report on Monday, March 2nd. DA Davidson set a $85.00 price target on Shake Shack in a research report on Friday, May 8th. Finally, Bank of America upgraded Shake Shack from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $88.00 to $101.00 in a research note on Tuesday, March 31st.

Get Our Latest Analysis on Shake Shack

Shake Shack Trading Down 2.4%

NYSE SHAK opened at $60.42 on Friday. The firm has a market capitalization of $2.58 billion, a PE ratio of 61.66, a P/E/G ratio of 2.56 and a beta of 1.78. The stock’s 50 day moving average is $90.37 and its 200 day moving average is $89.85. Shake Shack has a twelve month low of $59.93 and a twelve month high of $144.65. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.45.

Shake Shack (NYSE:SHAK – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.11). Shake Shack had a return on equity of 9.62% and a net margin of 2.76%.The firm had revenue of $366.74 million during the quarter, compared to the consensus estimate of $372.43 million. During the same quarter last year, the company posted $0.14 EPS. Shake Shack’s revenue for the quarter was up 14.3% compared to the same quarter last year. Research analysts forecast that Shake Shack will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Stephanie Ann Sentell sold 258 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $102.21, for a total value of $26,370.18. Following the sale, the insider directly owned 15,084 shares of the company’s stock, valued at approximately $1,541,735.64. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SHAK. SummitTX Capital L.P. purchased a new stake in shares of Shake Shack during the first quarter valued at approximately $542,000. Delta Global Management LP purchased a new position in Shake Shack in the 1st quarter worth approximately $1,860,000. Cannell & Spears LLC lifted its position in Shake Shack by 27.4% in the 1st quarter. Cannell & Spears LLC now owns 452,694 shares of the company’s stock valued at $40,022,000 after acquiring an additional 97,446 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Shake Shack in the 1st quarter valued at approximately $19,774,000. Finally, Gamco Investors INC. ET AL boosted its stake in Shake Shack by 6.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 6,743 shares of the company’s stock valued at $597,000 after purchasing an additional 426 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

About Shake Shack

(Get Free Report)

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.

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