Shake Shack (NYSE:SHAK) Given New $155.00 Price Target at Oppenheimer

Shake Shack (NYSE:SHAK) had its price objective hoisted by Oppenheimer from $145.00 to $155.00 in a report published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

SHAK has been the subject of several other research reports. Barclays upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $125.00 to $159.00 in a research report on Tuesday. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. TD Cowen reiterated a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Finally, Truist Financial raised their target price on Shake Shack from $144.00 to $147.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $122.59.

Shake Shack Price Performance

Shake Shack stock opened at $132.62 on Tuesday. Shake Shack has a 52 week low of $64.16 and a 52 week high of $139.89. The company’s 50 day moving average price is $129.82 and its two-hundred day moving average price is $109.73. The stock has a market cap of $5.63 billion, a P/E ratio of 780.12, a P/E/G ratio of 2.83 and a beta of 1.86. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping 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 return on equity of 6.28% and a net margin of 0.68%. Shake Shack’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. On average, equities analysts predict that Shake Shack will post 0.82 earnings per share for the current year.

Insider Activity

In other news, CFO Katherine Irene Fogertey sold 642 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the transaction, the chief financial officer now owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the completion of the sale, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,333 shares of company stock worth $6,566,330. 9.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Shake Shack

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its holdings in shares of Shake Shack by 303.3% during the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock worth $1,460,000 after acquiring an additional 12,487 shares during the last quarter. Fisher Asset Management LLC raised its position in Shake Shack by 4.8% during the third quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock valued at $36,548,000 after purchasing an additional 16,097 shares in the last quarter. GDS Wealth Management bought a new stake in Shake Shack during the third quarter worth about $417,000. Charles Schwab Investment Management Inc. increased its position in shares of Shake Shack by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 353,501 shares of the company’s stock valued at $36,485,000 after purchasing an additional 24,813 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Shake Shack by 3.6% during the 3rd quarter. FMR LLC now owns 243,549 shares of the company’s stock valued at $25,137,000 after buying an additional 8,512 shares in the last quarter. Hedge funds and other 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.