Shake Shack (NYSE:SHAK) Price Target Lowered to $63.00 at JPMorgan Chase & Co.

Shake Shack (NYSE:SHAK) had its price target trimmed by JPMorgan Chase & Co. from $69.00 to $63.00 in a report released on Tuesday, Stock Target Advisor reports. The brokerage currently has an underweight rating on the stock.

A number of other research firms have also weighed in on SHAK. Stifel Nicolaus lowered their price objective on shares of Shake Shack from $80.00 to $60.00 in a research note on Tuesday. Barclays boosted 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. Morgan Stanley boosted their target price on shares of Shake Shack from $65.00 to $84.00 and gave the stock an equal weight rating in a report on Friday, October 18th. Wedbush reiterated a neutral rating and issued a $75.00 target price (down from $84.00) on shares of Shake Shack in a report on Tuesday. Finally, Piper Jaffray Companies reduced their target price on shares of Shake Shack from $109.00 to $97.00 and set an overweight rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $75.99.

NYSE:SHAK opened at $62.06 on Tuesday. Shake Shack has a 1-year low of $40.67 and a 1-year high of $105.84. The company has a 50-day moving average of $89.51 and a 200 day moving average of $78.98. The firm has a market cap of $2.49 billion, a PE ratio of 87.41, a price-to-earnings-growth ratio of 4.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.04 and a quick ratio of 1.08.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Monday, November 4th. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.06. Shake Shack had a net margin of 3.69% and a return on equity of 9.50%. The company had revenue of $157.76 million during the quarter, compared to analyst estimates of $157.45 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was up 31.9% compared to the same quarter last year. Sell-side analysts anticipate that Shake Shack will post 0.65 EPS for the current fiscal year.

In other news, CEO Randall J. Garutti sold 60,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $103.00, for a total transaction of $6,180,000.00. Following the transaction, the chief executive officer now owns 90,702 shares in the company, valued at $9,342,306. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Randall J. Garutti sold 30,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $82.54, for a total transaction of $2,476,200.00. Following the transaction, the chief executive officer now owns 60,702 shares in the company, valued at approximately $5,010,343.08. The disclosure for this sale can be found here. Insiders sold 188,919 shares of company stock valued at $18,057,001 over the last quarter. 21.85% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Shake Shack by 6.1% during the second quarter. BlackRock Inc. now owns 3,899,216 shares of the company’s stock valued at $281,523,000 after acquiring an additional 224,817 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Shake Shack by 1,069.6% during the second quarter. Invesco Ltd. now owns 1,099,642 shares of the company’s stock valued at $79,394,000 after acquiring an additional 1,005,627 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Shake Shack during the second quarter valued at about $58,021,000. Bank of New York Mellon Corp increased its holdings in shares of Shake Shack by 5.4% during the second quarter. Bank of New York Mellon Corp now owns 347,749 shares of the company’s stock valued at $25,107,000 after acquiring an additional 17,702 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Shake Shack by 2.5% during the second quarter. Northern Trust Corp now owns 333,333 shares of the company’s stock valued at $24,067,000 after acquiring an additional 8,183 shares in the last quarter. Hedge funds and other institutional investors own 84.64% of the company’s stock.

About Shake Shack

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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