Shake Shack (NYSE:SHAK) Price Target Raised to $70.00

Shake Shack (NYSE:SHAK) had its target price boosted by equities researchers at Wells Fargo & Company from $65.00 to $70.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company’s price objective would suggest a potential upside of 2.40% from the company’s previous close.

A number of other analysts have also recently issued reports on SHAK. BNP Paribas Exane upped their target price on Shake Shack from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Mizuho set a $90.00 price target on Shake Shack in a research note on Thursday, August 6th. Weiss Ratings raised Shake Shack from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 9th. Zacks Research upgraded Shake Shack from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley boosted their price objective on Shake Shack from $74.00 to $79.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Sixteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Shake Shack presently has a consensus rating of “Moderate Buy” and an average price target of $87.22.

Shake Shack Stock Performance

NYSE SHAK opened at $68.36 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.67 and a quick ratio of 1.64. Shake Shack has a 1 year low of $51.60 and a 1 year high of $107.46. The company has a market capitalization of $2.93 billion, a PE ratio of 72.72, a P/E/G ratio of 7.87 and a beta of 1.68. The company has a fifty day moving average of $66.19 and a two-hundred day moving average of $68.58.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.12. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%. The company had revenue of $417.62 million for the quarter, compared to analyst estimates of $417.18 million. During the same quarter last year, the company posted $0.44 earnings per share. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. As a group, analysts expect that Shake Shack will post 1.13 earnings per share for the current year.

Institutional Trading of Shake Shack

A number of large investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Shake Shack in the first quarter valued at approximately $19,774,000. Assenagon Asset Management S.A. lifted its stake in shares of Shake Shack by 602.5% during the second quarter. Assenagon Asset Management S.A. now owns 217,617 shares of the company’s stock valued at $12,191,000 after buying an additional 186,641 shares during the period. Cannell & Spears LLC boosted its position in Shake Shack by 27.4% during the first quarter. Cannell & Spears LLC now owns 452,694 shares of the company’s stock worth $40,022,000 after acquiring an additional 97,446 shares during the last quarter. Bank of America Corp DE boosted its position in Shake Shack by 9.3% during the first quarter. Bank of America Corp DE now owns 899,013 shares of the company’s stock worth $79,536,000 after acquiring an additional 76,724 shares during the last quarter. Finally, Madison Asset Management LLC acquired a new stake in Shake Shack during the second quarter worth approximately $3,246,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Company Profile

Shake Shack Inc operates a fast-casual restaurant chain known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, milkshakes and beverages. Its menu also includes vegetarian and other specialty items, with offerings varying by location. The company emphasizes hospitality, quality ingredients and restaurant designs intended to support both dine-in and takeout service.

The business began as a temporary hot dog cart in Madison Square Park in New York City in 2001 and opened its first permanent restaurant there in 2004.