Shake Shack (NYSE:SHAK) Receives Buy Rating from TD Cowen

TD Cowen reissued their buy rating on shares of Shake Shack (NYSE:SHAK) in a research note published on Thursday, Benzinga reports. They currently have a $125.00 price objective on the stock.

Several other equities analysts have also recently commented on SHAK. Truist Financial boosted their target price on Shake Shack from $112.00 to $115.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price target on shares of Shake Shack from $65.00 to $100.00 and gave the stock an underweight rating in a research note on Monday, March 4th. Oppenheimer increased their price target on shares of Shake Shack from $108.00 to $120.00 and gave the stock an outperform rating in a report on Friday, March 22nd. Wedbush reiterated a neutral rating and issued a $80.00 target price on shares of Shake Shack in a research report on Wednesday, February 14th. Finally, Morgan Stanley raised their price target on Shake Shack from $88.00 to $105.00 and gave the company an equal weight rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $96.33.

Shake Shack Price Performance

Shares of Shake Shack stock traded up $2.54 on Thursday, reaching $107.48. The stock had a trading volume of 998,226 shares, compared to its average volume of 952,318. The business’s 50 day moving average is $102.37 and its two-hundred day moving average is $80.42. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.52. Shake Shack has a 1 year low of $52.79 and a 1 year high of $110.90. The company has a market cap of $4.55 billion, a P/E ratio of 233.65, a price-to-earnings-growth ratio of 3.72 and a beta of 1.78.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $290.50 million for the quarter, compared to analysts’ expectations of $291.00 million. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) EPS. As a group, research analysts anticipate that Shake Shack will post 0.71 EPS for the current year.

Insider Buying and Selling

In other news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the completion of the sale, the director now directly owns 550,437 shares in the company, valued at $52,429,124.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $108.05, for a total value of $32,847.20. Following the completion of the sale, the director now directly owns 4,058 shares of the company’s stock, valued at approximately $438,466.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the sale, the director now directly owns 550,437 shares in the company, valued at approximately $52,429,124.25. The disclosure for this sale can be found here. Insiders have sold a total of 100,760 shares of company stock valued at $10,190,420 over the last three months. 10.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Shake Shack

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. grew its position in shares of Shake Shack by 4.5% in the 4th quarter. QRG Capital Management Inc. now owns 3,711 shares of the company’s stock worth $275,000 after buying an additional 161 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Shake Shack during the first quarter worth about $25,000. SG Americas Securities LLC grew its holdings in Shake Shack by 6.9% in the third quarter. SG Americas Securities LLC now owns 3,747 shares of the company’s stock worth $218,000 after purchasing an additional 243 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Shake Shack by 5.7% during the third quarter. Commonwealth Equity Services LLC now owns 4,560 shares of the company’s stock valued at $265,000 after purchasing an additional 247 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Shake Shack by 1.4% during the third quarter. Los Angeles Capital Management LLC now owns 19,679 shares of the company’s stock valued at $1,143,000 after purchasing an additional 274 shares during the last quarter. 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.