Truist Securities Boosts Shake Shack (NYSE:SHAK) Price Target to $102.00

Shake Shack (NYSE:SHAK) had its price target upped by Truist Securities from $100.00 to $102.00 in a research report released on Wednesday, Stock Target Advisor reports. They currently have a buy rating on the stock. Truist Securities also issued estimates for Shake Shack’s Q4 2021 earnings at ($0.19) EPS, FY2021 earnings at ($0.13) EPS, FY2022 earnings at $0.13 EPS and FY2023 earnings at $0.50 EPS.

Other analysts also recently issued reports about the company. Robert W. Baird reduced their target price on Shake Shack from $88.00 to $83.00 in a research note on Wednesday. Truist lifted their price target on Shake Shack from $100.00 to $102.00 and gave the company a buy rating in a research note on Wednesday. MKM Partners cut their price target on Shake Shack from $103.00 to $83.00 and set a neutral rating for the company in a research note on Tuesday, November 2nd. Loop Capital initiated coverage on Shake Shack in a research note on Tuesday, October 5th. They set a hold rating and a $80.00 price target for the company. Finally, Credit Suisse Group cut their price target on Shake Shack from $102.00 to $92.00 and set a neutral rating for the company in a research note on Friday, November 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $93.17.

SHAK stock opened at $69.29 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.54 and a quick ratio of 3.51. The company’s 50-day moving average is $75.54 and its 200-day moving average is $83.36. The stock has a market capitalization of $2.91 billion, a PE ratio of -138.58, a price-to-earnings-growth ratio of 83.15 and a beta of 1.52. Shake Shack has a 1 year low of $65.25 and a 1 year high of $138.38.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, November 4th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company had revenue of $193.90 million during the quarter, compared to the consensus estimate of $197.47 million. Shake Shack had a positive return on equity of 0.19% and a negative net margin of 2.64%. The firm’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same period last year, the business posted ($0.11) EPS. On average, analysts anticipate that Shake Shack will post -0.18 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in SHAK. BlackRock Inc. grew its stake in Shake Shack by 22.1% in the 2nd quarter. BlackRock Inc. now owns 6,987,446 shares of the company’s stock valued at $747,797,000 after buying an additional 1,264,855 shares in the last quarter. Amundi purchased a new position in Shake Shack in the 2nd quarter valued at approximately $94,400,000. Van Berkom & Associates Inc. purchased a new position in Shake Shack in the 2nd quarter valued at approximately $24,296,000. Champlain Investment Partners LLC purchased a new position in Shake Shack in the 2nd quarter valued at approximately $22,708,000. Finally, Lakewood Capital Management LP purchased a new position in Shake Shack in the 2nd quarter valued at approximately $21,104,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Shake Shack Company Profile

Shake Shack, Inc operates as a holding company. The firm engages in operating fast food hamburger restaurants. It offers beef burgers, flat-top dogs, chicken sandwiches, frozen custard and crinkle cut fries and includes all the mobile ordering essentials. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.

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