Shake Shack Inc. (NYSE:SHAK) Receives Consensus Rating of “Hold” from Brokerages

Shares of Shake Shack Inc. (NYSE:SHAK) have been given a consensus recommendation of “Hold” by the sixteen research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $115.56.

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $115.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. Truist Financial raised their price objective on Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. 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 report on Tuesday, September 24th. TD Cowen reaffirmed a “buy” rating and set a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Finally, Oppenheimer upped their price objective on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 28th.

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $110.08, for a total value of $1,100,800.00. Following the transaction, the director now directly owns 460,337 shares of the company’s stock, valued at $50,673,896.96. This trade represents a 2.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Katherine Irene Fogertey sold 642 shares of the company’s stock in a transaction that occurred on 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 directly owns 30,717 shares of the company’s stock, 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. Over the last ninety days, insiders sold 63,754 shares of company stock worth $7,711,497. Company insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently modified their holdings of SHAK. Point72 Asset Management L.P. grew its holdings in shares of Shake Shack by 154.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after purchasing an additional 395,311 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Shake Shack in the 3rd quarter valued at approximately $39,677,000. Holocene Advisors LP boosted its position in Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after buying an additional 384,131 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Shake Shack by 101.2% during the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after buying an additional 273,822 shares during the last quarter. Finally, Armistice Capital LLC increased its holdings in shares of Shake Shack by 69.1% during the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after buying an additional 236,950 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Performance

Shares of NYSE SHAK opened at $132.03 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The stock has a 50 day moving average price of $125.33 and a 200 day moving average price of $106.72. The stock has a market capitalization of $5.61 billion, a PE ratio of 776.65, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85. Shake Shack has a 52 week low of $64.16 and a 52 week high of $139.89.

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