Truist Financial Increases Shake Shack (NYSE:SHAK) Price Target to $149.00

Shake Shack (NYSE:SHAK) had its price target lifted by Truist Financial from $147.00 to $149.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on SHAK. Gordon Haskett upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research note on Wednesday. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $125.00 to $159.00 in a research note on Tuesday. TD Cowen reaffirmed a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research report on Wednesday, September 18th. UBS Group upped their target price on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Oppenheimer upped their target price on Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shake Shack presently has a consensus rating of “Hold” and an average price target of $122.89.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $128.61 on Wednesday. Shake Shack has a 52 week low of $64.16 and a 52 week high of $139.89. The company has a market capitalization of $5.46 billion, a PE ratio of 756.53, a price-to-earnings-growth ratio of 2.83 and a beta of 1.86. The stock’s fifty day moving average is $130.04 and its two-hundred day moving average is $109.89. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51.

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

Insider Activity

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, CFO Katherine Irene Fogertey sold 642 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 30,717 shares in the company, 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. Insiders sold 53,333 shares of company stock worth $6,566,330 over the last three months. 9.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

Several institutional investors and hedge funds have recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of Shake Shack by 4.3% in the 4th quarter. Nordea Investment Management AB now owns 76,884 shares of the company’s stock valued at $10,049,000 after buying an additional 3,186 shares during the period. GAMMA Investing LLC increased its holdings 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 purchasing an additional 265 shares during the period. Principal Financial Group Inc. increased its holdings in Shake Shack by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 189,229 shares of the company’s stock worth $19,530,000 after purchasing an additional 2,043 shares during the period. World Investment Advisors LLC purchased a new stake in Shake Shack during the 3rd quarter worth about $249,000. Finally, Neo Ivy Capital Management purchased a new stake in Shake Shack during the 3rd quarter worth about $142,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Company Profile

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.