Truist Boosts Shake Shack (NYSE:SHAK) Price Target to $102.00

Shake Shack (NYSE:SHAK) had its price objective lifted by Truist from $100.00 to $102.00 in a research note released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

SHAK has been the topic of a number of other research reports. Loop Capital started coverage on shares of Shake Shack in a research note on Tuesday, October 5th. They set a hold rating and a $80.00 price target on the stock. Robert W. Baird cut their target price on Shake Shack from $88.00 to $83.00 in a research report on Wednesday. BTIG Research raised Shake Shack from a neutral rating to a buy rating and set a $100.00 price target for the company in a research report on Friday, November 5th. Cowen dropped their price target on Shake Shack from $86.00 to $82.00 and set a market perform rating on the stock in a research note on Friday, November 5th. Finally, Truist Securities upgraded Shake Shack from a hold rating to a buy rating and reduced their price objective for the stock from $101.00 to $90.00 in a research note on Monday, November 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Shake Shack currently has a consensus rating of Hold and an average price target of $93.17.

Shares of SHAK stock opened at $69.29 on Wednesday. The stock’s fifty day moving average price is $75.54 and its 200 day moving average price is $83.36. Shake Shack has a 1-year low of $65.25 and a 1-year high of $138.38. The company has a market cap of $2.91 billion, a price-to-earnings ratio of -138.58, a price-to-earnings-growth ratio of 83.15 and a beta of 1.52. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.54 and a quick ratio of 3.51.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, November 4th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. Shake Shack had a positive return on equity of 0.19% and a negative net margin of 2.64%. The business had revenue of $193.90 million during the quarter, compared to the consensus estimate of $197.47 million. During the same quarter last year, the company earned ($0.11) earnings per share. The company’s quarterly revenue was up 48.7% on a year-over-year basis. As a group, equities research analysts anticipate that Shake Shack will post -0.18 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Man Group plc raised its holdings in Shake Shack by 412.6% in the 2nd quarter. Man Group plc now owns 50,191 shares of the company’s stock worth $5,371,000 after purchasing an additional 40,400 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Shake Shack by 9.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 12,477 shares of the company’s stock valued at $1,335,000 after buying an additional 1,095 shares in the last quarter. First Trust Advisors LP increased its position in shares of Shake Shack by 42.0% in the second quarter. First Trust Advisors LP now owns 43,418 shares of the company’s stock valued at $4,647,000 after buying an additional 12,852 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Shake Shack during the 2nd quarter worth approximately $3,428,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of Shake Shack by 46.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 5,812 shares of the company’s stock valued at $622,000 after buying an additional 1,852 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Shake Shack Company Profile

Shake Shack, Inc operates as a holding company. The firm engages in operating fast food hamburger restaurants. It offers beef burgers, flat-top dogs, chicken sandwiches, frozen custard and crinkle cut fries and includes all the mobile ordering essentials. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.

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