Shake Shack (NYSE:SHAK) Rating Increased to Buy at Gordon Haskett

Gordon Haskett upgraded shares of Shake Shack (NYSE:SHAK) from a hold rating to a buy rating in a report released on Wednesday, Marketbeat reports. They currently have $154.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $125.00 to $159.00 in a report on Tuesday. Truist Financial lifted their price objective on shares of Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $102.00 price objective (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Oppenheimer raised their target price on shares of Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, TD Cowen restated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $122.59.

Shake Shack Price Performance

Shake Shack stock opened at $132.62 on Wednesday. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 780.12, a PEG ratio of 2.83 and a beta of 1.86. The business’s 50 day simple moving average is $129.82 and its 200 day simple moving average is $109.73. Shake Shack has a 12 month low of $64.16 and a 12 month high of $139.89. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The company 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 revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. Sell-side analysts forecast that Shake Shack will post 0.82 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the sale, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,333 shares of company stock worth $6,566,330. 9.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Xponance Inc. increased its position in shares of Shake Shack by 4.5% in the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock valued at $216,000 after acquiring an additional 103 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Shake Shack by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock worth $3,241,000 after purchasing an additional 139 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Shake Shack by 1.1% during the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock worth $1,612,000 after purchasing an additional 187 shares during the last quarter. Arizona State Retirement System raised its position in shares of Shake Shack by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after buying an additional 196 shares during the period. Finally, Glenmede Trust Co. NA raised its position in shares of Shake Shack by 1.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock valued at $1,372,000 after buying an additional 199 shares during the period. 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.