Shake Shack (NYSE:SHAK) Downgraded to Hold Rating by TD Cowen

Shake Shack (NYSE:SHAK) was downgraded by stock analysts at TD Cowen from a “buy” rating to a “hold” rating in a report released on Monday,Finviz reports. They currently have a $105.00 price target on the stock. TD Cowen’s price objective indicates a potential downside of 11.93% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Truist Financial lifted their target price on shares of Shake Shack from $134.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on shares of Shake Shack from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, May 5th. Robert W. Baird lifted their target price on shares of Shake Shack from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Oppenheimer lowered their target price on shares of Shake Shack from $155.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, UBS Group lowered their target price on shares of Shake Shack from $140.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $113.40.

Shake Shack Trading Up 1.8%

Shares of Shake Shack stock opened at $119.23 on Monday. The company’s fifty day simple moving average is $91.21 and its 200-day simple moving average is $111.03. The stock has a market capitalization of $5.09 billion, a PE ratio of 518.39 and a beta of 1.61. Shake Shack has a 1-year low of $72.93 and a 1-year high of $139.89. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $320.90 million for the quarter, compared to analysts’ expectations of $330.24 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. As a group, equities analysts anticipate that Shake Shack will post 1.26 earnings per share for the current year.

Institutional Trading of Shake Shack

Large investors have recently made changes to their positions in the business. GDS Wealth Management increased its holdings in shares of Shake Shack by 253.6% in the 4th quarter. GDS Wealth Management now owns 14,277 shares of the company’s stock worth $1,853,000 after buying an additional 10,239 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Shake Shack by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company’s stock worth $46,979,000 after buying an additional 8,429 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Shake Shack in the 4th quarter worth about $260,000. Rhumbline Advisers increased its holdings in shares of Shake Shack by 0.3% in the 4th quarter. Rhumbline Advisers now owns 106,129 shares of the company’s stock worth $13,776,000 after buying an additional 278 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Shake Shack by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 195,157 shares of the company’s stock worth $25,331,000 after buying an additional 5,928 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors.

About Shake Shack

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.