Goldman Sachs Group Reiterates “Hold” Rating for Shake Shack (NYSE:SHAK)

Shake Shack (NYSE:SHAK)‘s stock had its “hold” rating reaffirmed by stock analysts at Goldman Sachs Group in a report released on Wednesday, TipRanks reports.

A number of other equities analysts have also issued reports on the stock. CSFB lowered their target price on shares of Shake Shack from $83.00 to $76.00 and set a “positive” rating on the stock in a research report on Tuesday, February 25th. Northcoast Research initiated coverage on shares of Shake Shack in a research report on Tuesday, December 17th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded shares of Shake Shack from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Barclays lowered their target price on shares of Shake Shack from $64.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 25th. Finally, Morgan Stanley lowered their target price on shares of Shake Shack from $62.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $65.86.

Shares of Shake Shack stock opened at $45.13 on Wednesday. The firm has a market capitalization of $1.69 billion, a P/E ratio of 72.79, a P/E/G ratio of 5.52 and a beta of 1.20. Shake Shack has a 52 week low of $30.01 and a 52 week high of $105.84. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $57.63 and its two-hundred day moving average is $70.60.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.07. The company had revenue of $151.44 million for the quarter, compared to analyst estimates of $153.05 million. Shake Shack had a net margin of 3.34% and a return on equity of 9.03%. The firm’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 earnings per share. As a group, research analysts expect that Shake Shack will post 0.4 earnings per share for the current fiscal year.

In related news, Director Jonathan D. Sokoloff sold 337,857 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $60.28, for a total transaction of $20,366,019.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 21.85% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC lifted its holdings in Shake Shack by 56.4% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,297,703 shares of the company’s stock valued at $77,304,000 after acquiring an additional 467,943 shares during the period. Norges Bank acquired a new stake in Shake Shack in the fourth quarter valued at $10,667,000. Macquarie Group Ltd. lifted its holdings in Shake Shack by 23.9% in the fourth quarter. Macquarie Group Ltd. now owns 923,965 shares of the company’s stock valued at $55,041,000 after acquiring an additional 178,521 shares during the period. Point72 Asset Management L.P. lifted its holdings in Shake Shack by 615.1% in the third quarter. Point72 Asset Management L.P. now owns 164,132 shares of the company’s stock valued at $16,092,000 after acquiring an additional 141,179 shares during the period. Finally, Bridger Management LLC lifted its holdings in Shake Shack by 25.9% in the fourth quarter. Bridger Management LLC now owns 456,828 shares of the company’s stock valued at $27,213,000 after acquiring an additional 93,986 shares during the period. 80.36% of the stock is owned by hedge funds and other institutional investors.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

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Analyst Recommendations for Shake Shack (NYSE:SHAK)

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