Shake Shack (NYSE:SHAK) Stock Rating Upgraded by Barclays

Barclays upgraded shares of Shake Shack (NYSE:SHAK) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday, Marketbeat.com reports. Barclays currently has $159.00 price target on the stock, up from their prior price target of $125.00.

SHAK has been the subject of several other reports. JPMorgan Chase & Co. reissued an “underweight” rating and set a $102.00 target price (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Oppenheimer upped their target price on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. TD Cowen reaffirmed a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Finally, Truist Financial boosted their price target on shares of Shake Shack from $144.00 to $147.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $122.59.

Shake Shack Stock Up 0.4 %

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

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. Analysts forecast that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Daniel Harris Meyer sold 22,691 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the sale, the director now directly owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. This represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Katherine Irene Fogertey sold 642 shares of the 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 sale, the chief financial officer now owns 30,717 shares of the company’s stock, valued at $4,223,894.67. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 53,333 shares of company stock valued at $6,566,330. Insiders own 9.73% of the company’s stock.

Institutional Trading of Shake Shack

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHAK. Quest Partners LLC purchased a new position in shares of Shake Shack in the 2nd quarter valued at approximately $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shake Shack during the third quarter worth $41,000. Kimelman & Baird LLC purchased a new position in Shake Shack in the 2nd quarter valued at $45,000. Covestor Ltd increased its stake in 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 buying an additional 205 shares during the period. Finally, GAMMA Investing LLC raised its position in Shake Shack by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $96,000 after buying an additional 265 shares during the last quarter. 86.07% of the stock is 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.