Shake Shack (NYSE:SHAK) Given “Underweight” Rating at JPMorgan Chase & Co.

Shake Shack (NYSE:SHAK)‘s stock had its “underweight” rating reissued by analysts at JPMorgan Chase & Co. in a report issued on Tuesday, Benzinga reports. They currently have a $102.00 target price on the stock, down from their previous target price of $105.00. JPMorgan Chase & Co.‘s price target indicates a potential downside of 3.38% from the company’s previous close.

SHAK has been the topic of a number of other research reports. Bank of America boosted their price objective on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $121.00 to $114.00 in a research note on Monday, August 19th. Morgan Stanley cut their price objective on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. The Goldman Sachs Group increased their price target on shares of Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $115.00 target price on shares of Shake Shack in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $107.39.

Shake Shack Stock Performance

Shares of NYSE SHAK traded down $1.00 during midday trading on Tuesday, reaching $105.57. 11,942 shares of the company traded hands, compared to its average volume of 926,580. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 191.95, a PEG ratio of 3.02 and a beta of 1.83. The stock has a 50-day moving average price of $97.70 and a 200 day moving average price of $97.42. Shake Shack has a 52 week low of $52.79 and a 52 week high of $111.29. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.06 and a quick ratio of 2.03.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $316.50 million for the quarter, compared to the consensus estimate of $314.37 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. Shake Shack’s revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. Sell-side analysts anticipate that Shake Shack will post 0.73 earnings per share for the current fiscal year.

Insider Activity at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 963 shares of Shake Shack stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total transaction of $92,476.89. Following the completion of the transaction, the chief financial officer now directly owns 37,464 shares in the company, valued at approximately $3,597,667.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Shake Shack news, CFO Katherine Irene Fogertey sold 963 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $96.03, for a total transaction of $92,476.89. Following the transaction, the chief financial officer now owns 37,464 shares in the company, valued at approximately $3,597,667.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total value of $1,102,400.00. Following the transaction, the director now owns 470,437 shares in the company, valued at approximately $51,860,974.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,213 shares of company stock valued at $1,311,175. 9.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Xponance Inc. lifted its stake in shares of Shake Shack by 4.5% in the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock valued at $216,000 after acquiring an additional 103 shares during the last quarter. Brighton Jones LLC increased its stake in Shake Shack by 1.1% in the second quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock valued at $1,612,000 after purchasing an additional 187 shares in the last quarter. Arizona State Retirement System boosted its holdings in Shake Shack by 1.9% in the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock worth $945,000 after acquiring an additional 196 shares in the last quarter. CWM LLC increased its position in shares of Shake Shack by 24.7% during the second quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after acquiring an additional 207 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Shake Shack by 5.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,855 shares of the company’s stock worth $347,000 after acquiring an additional 212 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.