Truist Securities Boosts Shake Shack (NYSE:SHAK) Price Target to $102.00

Shake Shack (NYSE:SHAK) had its price objective lifted by Truist Securities from $100.00 to $102.00 in a report released on Wednesday morning, Stock Target Advisor reports. They currently have a buy rating on the stock. Truist Securities also issued estimates for Shake Shack’s Q4 2021 earnings at ($0.19) EPS, FY2021 earnings at ($0.13) EPS, FY2022 earnings at $0.13 EPS and FY2023 earnings at $0.50 EPS.

A number of other equities analysts also recently issued reports on the company. Truist increased their price objective on Shake Shack from $100.00 to $102.00 and gave the stock a buy rating in a report on Wednesday. Barclays lowered their price target on shares of Shake Shack from $80.00 to $77.00 and set an equal weight rating for the company in a research report on Wednesday, December 15th. Cowen cut their price objective on shares of Shake Shack from $86.00 to $82.00 and set a market perform rating on the stock in a report on Friday, November 5th. Credit Suisse Group decreased their target price on shares of Shake Shack from $102.00 to $92.00 and set a neutral rating for the company in a research note on Friday, November 5th. Finally, MKM Partners dropped their price target on Shake Shack from $103.00 to $83.00 and set a neutral rating on the stock in a research report on Tuesday, November 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Shake Shack presently has a consensus rating of Hold and a consensus price target of $93.17.

Shares of SHAK opened at $69.29 on Wednesday. Shake Shack has a 1-year low of $65.25 and a 1-year high of $138.38. The company has a current ratio of 3.54, a quick ratio of 3.51 and a debt-to-equity ratio of 0.55. The firm’s 50-day moving average price is $75.54 and its 200-day moving average price is $83.36. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -138.58, a PEG ratio of 83.15 and a beta of 1.52.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, November 4th. The company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Shake Shack had a positive return on equity of 0.19% and a negative net margin of 2.64%. The business had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $197.47 million. During the same period in the previous year, the firm posted ($0.11) EPS. The business’s revenue was up 48.7% on a year-over-year basis. On average, research analysts forecast that Shake Shack will post -0.18 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Baird Financial Group Inc. raised its stake in Shake Shack by 4.4% during the 2nd quarter. Baird Financial Group Inc. now owns 3,098 shares of the company’s stock valued at $332,000 after buying an additional 131 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of Shake Shack by 5.1% in the third quarter. Inspire Investing LLC now owns 2,706 shares of the company’s stock worth $212,000 after acquiring an additional 132 shares during the period. Truvestments Capital LLC increased its position in Shake Shack by 5.1% during the third quarter. Truvestments Capital LLC now owns 3,495 shares of the company’s stock valued at $274,000 after acquiring an additional 170 shares during the last quarter. Profund Advisors LLC lifted its holdings in Shake Shack by 5.0% in the second quarter. Profund Advisors LLC now owns 3,995 shares of the company’s stock valued at $428,000 after acquiring an additional 189 shares during the period. Finally, Voya Investment Management LLC boosted its position in Shake Shack by 1.0% in the third quarter. Voya Investment Management LLC now owns 21,906 shares of the company’s stock worth $1,719,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

About Shake Shack

Shake Shack, Inc operates as a holding company. The firm engages in operating fast food hamburger restaurants. It offers beef burgers, flat-top dogs, chicken sandwiches, frozen custard and crinkle cut fries and includes all the mobile ordering essentials. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.

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