Shake Shack (NYSE:SHAK) Price Target Raised to $140.00

Shake Shack (NYSE:SHAK) had its price target hoisted by UBS Group from $130.00 to $140.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. 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 report on Tuesday, September 24th. Barclays upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $125.00 to $159.00 in a research report on Tuesday. TD Cowen reaffirmed a “buy” rating and set a $125.00 price target on shares of Shake Shack in a research note on Wednesday, September 18th. Oppenheimer lifted their price objective on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Truist Financial upped their target price on shares of Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $122.59.

Shake Shack Trading Up 0.4 %

Shake Shack stock opened at $132.62 on Tuesday. Shake Shack has a 1 year low of $64.16 and a 1 year high of $139.89. The firm’s 50 day moving average price is $129.82 and its 200-day moving average price is $109.73. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The stock has a market cap of $5.63 billion, a P/E ratio of 780.12, a PEG ratio of 2.83 and a beta of 1.86.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. During the same period in the previous year, the firm posted $0.17 EPS. Shake Shack’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities analysts predict that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack 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 owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the transaction, the chief financial officer now directly owns 30,717 shares in the company, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,333 shares of company stock valued at $6,566,330 in the last quarter. 9.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Shake Shack

Hedge funds have recently made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of Shake Shack during the second quarter valued at $38,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Shake Shack during the 3rd quarter worth about $41,000. Kimelman & Baird LLC purchased a new position in Shake Shack during the 2nd quarter valued at about $45,000. Covestor Ltd raised its holdings in shares of Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after purchasing an additional 205 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Shake Shack by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $96,000 after purchasing an additional 265 shares during the period. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

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.