Shake Shack Inc. (SHAK) Earns Buy Rating from Buckingham Research
Buckingham Research reissued their buy rating on shares of Shake Shack Inc. (NYSE:SHAK) in a research note issued to investors on Friday. Buckingham Research currently has a $45.00 price target on the stock.
SHAK has been the topic of several other research reports. Vetr raised shares of Shake Shack from a buy rating to a strong-buy rating and set a $39.64 price target on the stock in a report on Monday, September 5th. Zacks Investment Research raised shares of Shake Shack from a hold rating to a buy rating and set a $46.00 price target on the stock in a report on Saturday, July 23rd. SunTrust Banks Inc. assumed coverage on shares of Shake Shack in a report on Wednesday, June 1st. They set a neutral rating on the stock. Jefferies Group reaffirmed a hold rating and set a $40.00 price target on shares of Shake Shack in a report on Friday, May 27th. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating and set a $38.00 price target (up previously from $35.00) on shares of Shake Shack in a report on Thursday, August 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $40.56.
Shake Shack (NYSE:SHAK) opened at 34.10 on Friday. The company’s 50 day moving average is $36.54 and its 200 day moving average is $36.57. Shake Shack has a 12-month low of $30.00 and a 12-month high of $53.50. The company has a market cap of $816.80 million, a price-to-earnings ratio of 84.20 and a beta of 1.15.
Shake Shack (NYSE:SHAK) last announced its earnings results on Wednesday, August 10th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The company earned $66.50 million during the quarter, compared to analyst estimates of $63.07 million. Shake Shack had a net margin of 3.35% and a return on equity of 8.09%. The firm’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 earnings per share. Analysts forecast that Shake Shack will post $0.45 earnings per share for the current fiscal year.
In other Shake Shack news, CEO Randall J. Garutti sold 10,000 shares of the business’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $36.65, for a total transaction of $366,500.00. Following the transaction, the chief executive officer now owns 13,100 shares in the company, valued at $480,115. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Harris Meyer sold 29,900 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $40.02, for a total transaction of $1,196,598.00. The disclosure for this sale can be found here. 44.69% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its position in Shake Shack by 171.1% in the second quarter. California State Teachers Retirement System now owns 32,934 shares of the company’s stock worth $1,200,000 after buying an additional 20,785 shares during the period. Bank of New York Mellon Corp boosted its position in Shake Shack by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 63,099 shares of the company’s stock worth $2,299,000 after buying an additional 3,451 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in Shake Shack by 20.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,720,760 shares of the company’s stock worth $62,687,000 after buying an additional 294,113 shares during the last quarter. Bank of Montreal Can bought a new position in Shake Shack during the second quarter worth approximately $625,000. Finally, Squarepoint Ops LLC boosted its position in Shake Shack by 110.4% in the first quarter. Squarepoint Ops LLC now owns 24,405 shares of the company’s stock worth $911,000 after buying an additional 12,805 shares during the last quarter. Institutional investors and hedge funds own 93.41% of the company’s stock.
Shake Shack Company Profile
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company has approximately 84 Shacks in over 10 countries and approximately 45 cities. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
Receive News & Ratings for Shake Shack Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shake Shack Inc. and related companies with MarketBeat.com's FREE daily email newsletter.