Shake Shack, Inc. (NYSE:SHAK) Given Average Recommendation of “Hold” by Analysts

Shares of Shake Shack, Inc. (NYSE:SHAK) have received a consensus rating of “Hold” from the twenty-seven brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $89.3913.

Several analysts recently weighed in on the company. Piper Sandler lowered their price objective on Shake Shack from $79.00 to $66.00 and set a “neutral” rating for the company in a report on Tuesday, July 14th. Weiss Ratings lowered Shake Shack from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, June 8th. Wells Fargo & Company lowered their price target on Shake Shack from $80.00 to $65.00 and set an “equal weight” rating for the company in a report on Wednesday, June 3rd. DA Davidson restated a “buy” rating and set a $70.00 price objective on shares of Shake Shack in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Shake Shack from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, May 8th.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $62.92 on Thursday. The firm has a market cap of $2.69 billion, a PE ratio of 64.20, a price-to-earnings-growth ratio of 4.88 and a beta of 1.63. The firm’s 50-day simple moving average is $58.01 and its 200-day simple moving average is $79.34. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.69. Shake Shack has a 1 year low of $51.60 and a 1 year high of $142.20.

Insider Activity

In other Shake Shack news, Director Josh Silverman acquired 8,290 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average price of $60.38 per share, for a total transaction of $500,550.20. Following the completion of the purchase, the director directly owned 8,290 shares in the company, valued at $500,550.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel Harris Meyer bought 32,258 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was bought at an average price of $61.88 per share, with a total value of $1,996,125.04. Following the completion of the purchase, the director owned 378,670 shares of the company’s stock, valued at $23,432,099.60. This trade represents a 9.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 50,616 shares of company stock valued at $3,109,782 over the last quarter. Corporate insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SHAK. Wellington Management Group LLP lifted its stake in Shake Shack by 21.0% in the third quarter. Wellington Management Group LLP now owns 2,590,911 shares of the company’s stock valued at $242,535,000 after buying an additional 450,406 shares during the last quarter. 12 West Capital Management LP grew its position in shares of Shake Shack by 12.0% during the fourth quarter. 12 West Capital Management LP now owns 1,963,595 shares of the company’s stock worth $159,385,000 after acquiring an additional 210,000 shares during the last quarter. State Street Corp grew its position in shares of Shake Shack by 1.1% during the second quarter. State Street Corp now owns 1,470,084 shares of the company’s stock worth $206,694,000 after acquiring an additional 15,607 shares during the last quarter. Swedbank AB acquired a new stake in shares of Shake Shack in the 4th quarter worth about $84,092,000. Finally, Van Berkom & Associates Inc. increased its holdings in shares of Shake Shack by 27.6% in the 4th quarter. Van Berkom & Associates Inc. now owns 923,347 shares of the company’s stock worth $74,948,000 after acquiring an additional 199,687 shares during the period. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Company Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.