Shake Shack (NYSE:SHAK) Trading Up 5.7%

Shake Shack Inc. (NYSE:SHAK) shares rose 5.7% during trading on Monday . The stock traded as high as $99.94 and last traded at $98.65. Approximately 81,839 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 937,014 shares. The stock had previously closed at $93.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SHAK shares. Capital One Financial assumed coverage on shares of Shake Shack in a report on Monday, July 29th. They set an “overweight” rating and a $95.00 price target for the company. Bank of America raised their target price on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Truist Financial reiterated a “buy” rating and set a $127.00 price target on shares of Shake Shack in a report on Wednesday, August 28th. Barclays increased their price objective on Shake Shack from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, Wedbush restated a “neutral” rating and set a $90.00 price target on shares of Shake Shack in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shake Shack currently has an average rating of “Hold” and an average price target of $106.37.

Shake Shack Stock Up 1.6 %

The stock has a market capitalization of $4.12 billion, a P/E ratio of 176.55, a P/E/G ratio of 2.77 and a beta of 1.83. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $94.45 and its 200-day moving average is $97.40.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $316.50 million during the quarter, compared to analysts’ expectations of $314.37 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. Shake Shack’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. As a group, equities research analysts predict that Shake Shack Inc. will post 0.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the completion of the transaction, the director now directly owns 3,347 shares of the company’s stock, valued at $302,535.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00. Following the completion of the transaction, the director now owns 470,437 shares in the company, valued at approximately $51,860,974.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $90.39, for a total value of $27,478.56. Following the completion of the transaction, the director now owns 3,347 shares in the company, valued at $302,535.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,213 shares of company stock valued at $1,311,175. 9.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP raised its stake in shares of Shake Shack by 101.2% during the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after buying an additional 273,822 shares during the last quarter. Armistice Capital LLC lifted its stake in shares of Shake Shack by 69.1% in the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after purchasing an additional 236,950 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Shake Shack by 471.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 255,374 shares of the company’s stock worth $22,984,000 after purchasing an additional 210,717 shares during the last quarter. Norges Bank acquired a new stake in shares of Shake Shack during the fourth quarter worth $12,238,000. Finally, Jennison Associates LLC bought a new stake in Shake Shack in the first quarter valued at about $16,365,000. Institutional investors own 86.07% 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, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.