Truist Financial Issues Positive Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its price target increased by Truist Financial from $144.00 to $147.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Oppenheimer boosted their target price on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Barclays raised their target price on shares of Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $115.00 price target on shares of Shake Shack in a report on Wednesday, August 28th. Finally, TD Cowen reissued a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $113.12.

Shake Shack Stock Up 3.0 %

Shares of SHAK opened at $129.63 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 762.53, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85. Shake Shack has a 1 year low of $64.16 and a 1 year high of $139.89. The business’s 50 day simple moving average is $123.64 and its 200-day simple moving average is $105.59.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. The business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. Shake Shack’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 earnings per share. As a group, equities analysts expect that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the transaction, the chief financial officer now directly owns 36,180 shares of the company’s stock, valued at $3,760,187.40. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the completion of the transaction, the director now directly owns 460,337 shares of the company’s stock, valued at $50,673,896.96. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,754 shares of company stock worth $7,711,497. 9.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Shake Shack

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Shake Shack by 3.5% in the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock worth $149,937,000 after purchasing an additional 49,324 shares in the last quarter. Holocene Advisors LP grew its position in shares of Shake Shack by 68.3% in the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after buying an additional 384,131 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Shake Shack by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock worth $90,470,000 after buying an additional 26,620 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Shake Shack by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock worth $72,088,000 after acquiring an additional 66,090 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Shake Shack by 154.8% during the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after acquiring an additional 395,311 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

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, 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.