Cowen Lowers Shake Shack (NYSE:SHAK) Price Target to $48.00

Shake Shack (NYSE:SHAKGet Rating) had its price target cut by Cowen from $52.00 to $48.00 in a research report report published on Friday, Benzinga reports. They currently have a market perform rating on the stock.

SHAK has been the topic of several other reports. Truist Financial reduced their price objective on Shake Shack from $86.00 to $67.00 and set a buy rating on the stock in a research report on Friday, July 1st. Northcoast Research upgraded Shake Shack from a neutral rating to a buy rating and set a $70.00 target price for the company in a research note on Monday, May 16th. Wedbush dropped their target price on Shake Shack from $83.00 to $75.00 in a research note on Friday, May 6th. Gordon Haskett began coverage on Shake Shack in a research note on Tuesday, July 19th. They issued a hold rating and a $50.00 target price for the company. Finally, Raymond James upgraded Shake Shack from an underperform rating to a market perform rating in a research note on Tuesday, May 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Shake Shack has a consensus rating of Hold and an average target price of $68.78.

Shake Shack Stock Up 1.0 %

SHAK opened at $51.56 on Friday. The business’s fifty day moving average is $44.50 and its two-hundred day moving average is $56.48. The company has a current ratio of 2.89, a quick ratio of 3.04 and a debt-to-equity ratio of 0.57. Shake Shack has a one year low of $37.72 and a one year high of $100.85.

Shake Shack (NYSE:SHAKGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.03. Shake Shack had a negative return on equity of 3.42% and a negative net margin of 2.80%. The company had revenue of $203.39 million for the quarter, compared to the consensus estimate of $200.64 million. During the same period in the previous year, the business earned $0.04 earnings per share. Shake Shack’s quarterly revenue was up 31.0% compared to the same quarter last year. As a group, equities analysts forecast that Shake Shack will post -0.32 EPS for the current fiscal year.

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer purchased 21,000 shares of Shake Shack stock in a transaction that occurred on Monday, July 11th. The stock was purchased at an average price of $39.58 per share, with a total value of $831,180.00. Following the completion of the acquisition, the director now owns 576,364 shares of the company’s stock, valued at approximately $22,812,487.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Shake Shack news, COO Zach Koff sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the chief operating officer now owns 31,085 shares of the company’s stock, valued at approximately $1,398,825. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel Harris Meyer bought 21,000 shares of Shake Shack stock in a transaction on Monday, July 11th. The shares were purchased at an average cost of $39.58 per share, for a total transaction of $831,180.00. Following the acquisition, the director now owns 576,364 shares in the company, valued at $22,812,487.12. The disclosure for this purchase can be found here. 9.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Shake Shack by 122.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 439 shares of the company’s stock worth $30,000 after buying an additional 242 shares during the last quarter. HM Payson & Co. bought a new position in Shake Shack during the 4th quarter worth approximately $37,000. CWM LLC bought a new position in Shake Shack during the 4th quarter worth approximately $42,000. Pinebridge Investments L.P. bought a new position in Shake Shack during the 4th quarter worth approximately $43,000. Finally, Parkside Investments LLC bought a new position in Shake Shack during the 1st quarter worth approximately $47,000. Institutional investors own 81.03% of the company’s stock.

Shake Shack Company Profile

(Get Rating)

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 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks.

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Analyst Recommendations for Shake Shack (NYSE:SHAK)

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