Piper Sandler Increases Shake Shack (NYSE:SHAK) Price Target to $110.00

Shake Shack (NYSE:SHAK) had its price objective lifted by Piper Sandler from $78.00 to $110.00 in a research note published on Wednesday morning, The Fly reports. Piper Sandler currently has an overweight rating on the stock. Piper Sandler also issued estimates for Shake Shack’s Q1 2022 earnings at $0.09 EPS, Q2 2022 earnings at $0.22 EPS, Q3 2022 earnings at $0.22 EPS, Q4 2022 earnings at $0.15 EPS and FY2022 earnings at $0.69 EPS.

Other equities analysts also recently issued reports about the company. Wedbush downgraded Shake Shack from an outperform rating to a neutral rating and set a $77.00 price target for the company. in a report on Friday, November 20th. They noted that the move was a valuation call. Morgan Stanley raised their price target on Shake Shack from $46.00 to $69.00 and gave the company an equal weight rating in a report on Wednesday, October 14th. MKM Partners raised their price target on Shake Shack from $54.00 to $65.00 in a report on Friday, October 30th. Stifel Nicolaus raised their price target on Shake Shack from $45.00 to $65.00 and gave the company a hold rating in a report on Friday, October 30th. Finally, Truist lifted their price objective on Shake Shack from $51.00 to $58.00 in a report on Tuesday, September 22nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $70.16.

Shake Shack stock traded up $3.01 on Wednesday, hitting $112.34. 32,905 shares of the stock traded hands, compared to its average volume of 977,949. Shake Shack has a 1 year low of $30.01 and a 1 year high of $113.00. The business’s fifty day simple moving average is $86.68 and its 200 day simple moving average is $68.77. The firm has a market cap of $4.66 billion, a P/E ratio of -520.62 and a beta of 1.71.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, October 29th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.10. Shake Shack had a negative return on equity of 1.40% and a negative net margin of 1.64%. The firm had revenue of $130.40 million during the quarter, compared to the consensus estimate of $125.43 million. During the same period last year, the company earned $0.26 earnings per share. The company’s revenue was down 17.5% on a year-over-year basis. On average, equities analysts forecast that Shake Shack will post -0.77 EPS for the current year.

In other Shake Shack news, CEO Randall J. Garutti sold 13,596 shares of the business’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $75.04, for a total transaction of $1,020,243.84. Following the completion of the sale, the chief executive officer now directly owns 65,487 shares in the company, valued at approximately $4,914,144.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Zach Koff sold 700 shares of Shake Shack stock in a transaction dated Thursday, December 10th. The shares were sold at an average price of $84.86, for a total value of $59,402.00. Following the transaction, the chief operating officer now directly owns 18,845 shares in the company, valued at $1,599,186.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 440,756 shares of company stock valued at $34,137,582. Corporate insiders own 14.98% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Shulman DeMeo Asset Management LLC bought a new stake in shares of Shake Shack during the fourth quarter valued at approximately $259,000. HM Payson & Co. purchased a new stake in shares of Shake Shack in the third quarter valued at approximately $71,000. Strs Ohio boosted its stake in shares of Shake Shack by 133.3% in the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $135,000 after acquiring an additional 1,200 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Shake Shack in the third quarter worth approximately $545,000. Finally, Sei Investments Co. boosted its stake in shares of Shake Shack by 36.6% in the third quarter. Sei Investments Co. now owns 47,931 shares of the company’s stock worth $3,091,000 after acquiring an additional 12,831 shares during the last quarter. 92.25% of the stock is currently owned by hedge funds and other 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, 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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