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

ValuEngine cut shares of Shake Shack (NYSE:SHAK) from a buy rating to a hold rating in a research report report published on Wednesday morning, ValuEngine reports.

Other analysts also recently issued reports about the stock. Deutsche Bank assumed coverage on shares of Shake Shack in a report on Monday, September 30th. They set a hold rating and a $90.00 target price on the stock. Barclays raised their target price on shares of Shake Shack from $58.00 to $70.00 and gave the stock an equal weight rating in a report on Tuesday, August 6th. Goldman Sachs Group assumed coverage on shares of Shake Shack in a report on Monday, July 29th. They set a buy rating and a $95.00 target price on the stock. Stifel Nicolaus raised their target price on shares of Shake Shack from $65.00 to $80.00 and gave the stock a hold rating in a report on Tuesday, September 17th. Finally, Credit Suisse Group lifted their price objective on shares of Shake Shack from $77.00 to $83.00 and gave the company an outperform rating in a report on Tuesday, August 6th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $80.22.

SHAK stock traded up $0.49 during mid-day trading on Wednesday, hitting $94.66. 454,922 shares of the company were exchanged, compared to its average volume of 790,856. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.08 and a current ratio of 1.10. The firm has a market cap of $3.53 billion, a P/E ratio of 133.32, a P/E/G ratio of 5.78 and a beta of 1.27. The firm’s 50 day simple moving average is $99.04 and its 200 day simple moving average is $74.08. Shake Shack has a 1-year low of $40.67 and a 1-year high of $105.84.

Shake Shack (NYSE:SHAK) last announced its earnings results on Monday, August 5th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The firm had revenue of $152.71 million for the quarter, compared to the consensus estimate of $149.77 million. Shake Shack had a net margin of 2.96% and a return on equity of 9.01%. The business’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. On average, equities research analysts predict that Shake Shack will post 0.65 EPS for the current fiscal year.

In other news, COO Zach Koff sold 20,000 shares of Shake Shack stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $87.50, for a total value of $1,750,000.00. Following the sale, the chief operating officer now directly owns 11,692 shares in the company, valued at $1,023,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan D. Sokoloff sold 212,927 shares of Shake Shack stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $74.81, for a total transaction of $15,929,068.87. The disclosure for this sale can be found here. Insiders sold 648,177 shares of company stock worth $53,117,170 over the last quarter. 21.85% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. bought a new position in shares of Shake Shack in the third quarter valued at $29,000. Captrust Financial Advisors bought a new position in shares of Shake Shack in the second quarter valued at $42,000. Kistler Tiffany Companies LLC bought a new position in shares of Shake Shack in the second quarter valued at $68,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Shake Shack by 263.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,362 shares of the company’s stock valued at $98,000 after buying an additional 987 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Shake Shack in the second quarter valued at $135,000. 84.44% of the stock is owned by institutional investors and hedge funds.

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, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

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Analyst Recommendations for Shake Shack (NYSE:SHAK)

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