Shake Shack (NYSE:SHAK) Given New $135.00 Price Target at Oppenheimer

Shake Shack (NYSE:SHAK) had its price target increased by Oppenheimer from $122.00 to $135.00 in a report published on Monday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research analysts have also issued reports on SHAK. Morgan Stanley decreased their price target 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 raised their price objective 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. Barclays raised their price objective on shares of Shake Shack from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.06.

Shake Shack Price Performance

NYSE SHAK opened at $121.67 on Monday. Shake Shack has a 12 month low of $54.06 and a 12 month high of $130.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.06 and a quick ratio of 2.03. The firm has a market capitalization of $5.15 billion, a PE ratio of 221.93, a P/E/G ratio of 3.23 and a beta of 1.83. The company’s 50 day simple moving average is $105.57 and its 200 day simple moving average is $98.49.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. As a group, equities research analysts forecast that Shake Shack will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the completion of the sale, the chief financial officer now owns 36,180 shares in the company, valued at approximately $3,760,187.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,367 shares of company stock valued at $2,337,213. 9.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Shake Shack

Hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. raised its holdings in Shake Shack by 4.5% during the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock worth $216,000 after purchasing an additional 103 shares during the last quarter. Brighton Jones LLC raised its holdings in Shake Shack by 1.1% during the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock worth $1,612,000 after purchasing an additional 187 shares during the last quarter. Arizona State Retirement System raised its holdings in Shake Shack by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock worth $945,000 after purchasing an additional 196 shares during the last quarter. CWM LLC increased its stake in shares of Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after acquiring an additional 207 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Shake Shack by 1.8% in the 3rd quarter. Amalgamated Bank now owns 11,721 shares of the company’s stock valued at $1,210,000 after acquiring an additional 211 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.