Shake Shack (NYSE:SHAK) Given New $115.00 Price Target at Barclays

Shake Shack (NYSE:SHAK) had its target price upped by Barclays from $110.00 to $115.00 in a report released on Tuesday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other research analysts have also recently weighed in on SHAK. The Goldman Sachs Group boosted their target price on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Truist Financial reissued a “buy” rating and set a $127.00 price objective on shares of Shake Shack in a report on Wednesday, August 28th. TD Cowen restated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Bank of America increased their price target on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Wedbush restated a “neutral” rating and issued a $90.00 price objective on shares of Shake Shack in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $107.67.

Shake Shack Stock Performance

Shares of SHAK opened at $108.72 on Tuesday. The stock has a 50 day moving average of $104.68 and a 200 day moving average of $97.90. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 175.35, a PEG ratio of 3.25 and a beta of 1.83. Shake Shack has a 12 month low of $53.63 and a 12 month high of $113.50. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $316.50 million during the quarter, compared to analyst estimates of $314.37 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. As a group, sell-side analysts forecast that Shake Shack will post 0.74 earnings per share for the current year.

Insider Activity

In related news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00. Following the sale, the director now owns 460,337 shares in the company, valued at approximately $50,673,896.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $110.08, for a total value of $1,100,800.00. Following the sale, the director now directly owns 460,337 shares of the company’s stock, valued at $50,673,896.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the completion of the transaction, the chief financial officer now directly owns 36,180 shares of the company’s stock, valued at approximately $3,760,187.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,330 shares of company stock worth $2,429,690 in the last three months. Corporate insiders own 9.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SHAK. Xponance Inc. boosted its holdings in shares of Shake Shack by 4.5% in the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock worth $216,000 after purchasing an additional 103 shares in the last quarter. Brighton Jones LLC boosted 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 worth $1,612,000 after buying an additional 187 shares in the last quarter. Arizona State Retirement System grew its position in Shake Shack by 1.9% during the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after acquiring an additional 196 shares during the last quarter. CWM LLC grew its position in Shake Shack by 24.7% during the second quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after acquiring an additional 207 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Shake Shack by 5.8% during the second 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. Institutional investors own 86.07% of the company’s stock.

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.