JPMorgan Chase & Co. Has Lowered Expectations for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its target price decreased by JPMorgan Chase & Co. from $107.00 to $105.00 in a report issued on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Truist Financial raised their price objective on shares of Shake Shack from $143.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective on the stock in a report on Wednesday, January 8th. Oppenheimer raised their price objective on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. TD Securities reissued a “buy” rating and issued a $140.00 price objective on shares of Shake Shack in a report on Friday, February 21st. Finally, Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $125.00 to $159.00 in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Shake Shack has an average rating of “Hold” and a consensus price target of $125.67.

Shake Shack Stock Performance

Shares of NYSE SHAK opened at $90.58 on Thursday. The firm’s 50-day moving average price is $107.78 and its 200-day moving average price is $115.29. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. The company has a market cap of $3.85 billion, a PE ratio of 393.83 and a beta of 1.89. Shake Shack has a 52-week low of $77.50 and a 52-week high of $139.89.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $328.68 million for the quarter, compared to the consensus estimate of $329.02 million. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. As a group, analysts anticipate that Shake Shack will post 1.26 EPS for the current year.

Hedge Funds Weigh In On Shake Shack

Large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its position in shares of Shake Shack by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company’s stock valued at $2,518,000 after buying an additional 100 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Shake Shack by 5.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company’s stock valued at $243,000 after buying an additional 100 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Shake Shack by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock valued at $3,241,000 after buying an additional 139 shares during the last quarter. Summit Financial LLC raised its position in shares of Shake Shack by 1.1% during the fourth quarter. Summit Financial LLC now owns 13,083 shares of the company’s stock valued at $1,698,000 after buying an additional 139 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Shake Shack by 1.7% during the fourth quarter. Arizona State Retirement System now owns 11,024 shares of the company’s stock valued at $1,431,000 after buying an additional 182 shares during 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.