Shake Shack (NYSE:SHAK) Reaches New 12-Month High After Analyst Upgrade

Shake Shack Inc. (NYSE:SHAK)’s share price reached a new 52-week high on Monday after Oppenheimer raised their price target on the stock from $122.00 to $135.00. Oppenheimer currently has an outperform rating on the stock. Shake Shack traded as high as $114.44 and last traded at $113.28, with a volume of 61393 shares. The stock had previously closed at $110.45.

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. restated 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $115.00 target price on shares of Shake Shack in a report on Wednesday, August 28th. Robert W. Baird boosted their price target on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Wedbush reissued a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group increased their target price on Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $108.50.

Insider Buying and Selling

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total value of $1,102,400.00. Following the sale, the director now owns 470,437 shares in the company, valued at $51,860,974.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Katherine Irene Fogertey sold 963 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total transaction of $92,476.89. Following the completion of the transaction, the chief financial officer now directly owns 37,464 shares in the company, valued at $3,597,667.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00. Following the completion of the transaction, the director now directly owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,330 shares of company stock worth $2,429,690. Insiders own 9.73% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Shake Shack during the 1st quarter worth $25,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shake Shack in the 3rd quarter valued at approximately $41,000. Quest Partners LLC purchased a new position in Shake Shack in the 2nd quarter valued at $38,000. Kimelman & Baird LLC acquired a new position in shares of Shake Shack during the second quarter worth about $45,000. Finally, Covestor Ltd increased its position in Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Shake Shack Price Performance

The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 206.49, a price-to-earnings-growth ratio of 3.23 and a beta of 1.83. The stock has a fifty day moving average of $105.26 and a two-hundred day moving average of $98.32.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The business had revenue of $316.50 million for the quarter, compared to analyst estimates of $314.37 million. During the same quarter in the previous year, the company earned $0.18 EPS. The company’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities research analysts anticipate that Shake Shack Inc. will post 0.74 earnings per share for the current year.

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.