Shake Shack (NYSE:SHAK) Price Target Raised to $110.00

Shake Shack (NYSE:SHAK) had its target price lifted by JPMorgan Chase & Co. from $100.00 to $110.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

SHAK has been the topic of several other reports. TD Cowen lowered Shake Shack from a “buy” rating to a “hold” rating and set a $105.00 price target on the stock. in a research report on Monday, May 19th. The Goldman Sachs Group raised their price target on Shake Shack from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. UBS Group reduced their price target on Shake Shack from $140.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Oppenheimer reduced their price target on Shake Shack from $155.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, Loop Capital upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $123.95.

Shake Shack Price Performance

Shares of Shake Shack stock opened at $138.83 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $5.92 billion, a PE ratio of 495.84, a price-to-earnings-growth ratio of 3.27 and a beta of 1.77. The business’s 50-day moving average price is $115.47 and its 200-day moving average price is $110.84. Shake Shack has a 12 month low of $72.93 and a 12 month high of $140.97.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm had revenue of $320.90 million for the quarter, compared to the consensus estimate of $330.24 million. Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. Shake Shack’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share. Sell-side analysts forecast that Shake Shack will post 1.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Katherine Irene Fogertey sold 562 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $124.84, for a total value of $70,160.08. Following the completion of the transaction, the chief financial officer now owns 35,188 shares in the company, valued at $4,392,869.92. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $130.10, for a total value of $1,301,000.00. Following the completion of the transaction, the director now owns 396,636 shares of the company’s stock, valued at approximately $51,602,343.60. The trade was a 2.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,698 shares of company stock worth $4,499,820. 9.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Summit Financial LLC lifted its stake in shares of Shake Shack by 0.7% in the 1st quarter. Summit Financial LLC now owns 13,180 shares of the company’s stock valued at $1,162,000 after purchasing an additional 97 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Shake Shack by 5.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company’s stock valued at $243,000 after purchasing an additional 100 shares during the period. Redwood Investments LLC lifted its stake in shares of Shake Shack by 0.5% in the 1st quarter. Redwood Investments LLC now owns 23,231 shares of the company’s stock valued at $2,048,000 after purchasing an additional 110 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Shake Shack by 1.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,367 shares of the company’s stock valued at $914,000 after purchasing an additional 133 shares during the period. Finally, Xponance Inc. lifted its stake in shares of Shake Shack by 5.9% in the 1st quarter. Xponance Inc. now owns 2,868 shares of the company’s stock valued at $253,000 after purchasing an additional 159 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

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.