Shake Shack (NYSE:SHAK) Price Target Cut to $110.00 by Analysts at Stifel Nicolaus

Shake Shack (NYSE:SHAK) had its price target trimmed by Stifel Nicolaus from $128.00 to $110.00 in a report released on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Several other analysts have also recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $130.00 price objective on shares of Shake Shack in a research note on Wednesday. Oppenheimer increased their price target on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Truist Financial cut their price objective on Shake Shack from $149.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Finally, Gordon Haskett upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $123.78.

Shake Shack Price Performance

Shake Shack stock opened at $115.25 on Friday. The business has a 50 day simple moving average of $128.97 and a 200 day simple moving average of $111.20. 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 company has a market capitalization of $4.90 billion, a PE ratio of 677.94, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. Shake Shack has a one year low of $66.06 and a one year high of $139.89.

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

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the sale, the director now owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. This trade represents a 6.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,333 shares of company stock valued at $6,566,330 in the last 90 days. 9.73% of the stock is owned by insiders.

Institutional Trading of Shake Shack

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

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.