Shake Shack Inc. (SHAK) Earns Buy Rating from Buckingham Research
Buckingham Research reaffirmed their buy rating on shares of Shake Shack Inc. (NYSE:SHAK) in a research report sent to investors on Friday morning. Buckingham Research currently has a $45.00 price target on the stock.
Other equities research analysts also recently issued reports about the stock. Wedbush assumed coverage on shares of Shake Shack in a research report on Wednesday, July 6th. They set an underperform rating and a $30.00 target price for the company. Zacks Investment Research downgraded shares of Shake Shack from a buy rating to a hold rating in a research report on Wednesday, July 13th. Vetr downgraded shares of Shake Shack from a buy rating to a hold rating and set a $37.50 target price for the company. in a research report on Wednesday, July 6th. Jefferies Group reissued a hold rating and set a $36.00 target price (down from $38.00) on shares of Shake Shack in a research report on Thursday, August 11th. Finally, SunTrust Banks Inc. raised shares of Shake Shack from a neutral rating to a buy rating and boosted their target price for the stock from $40.87 to $48.00 in a research report on Thursday, August 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $40.56.
Shake Shack (NYSE:SHAK) opened at 34.10 on Friday. The stock’s 50 day moving average is $36.54 and its 200 day moving average is $36.57. The company has a market capitalization of $816.80 million, a PE ratio of 84.20 and a beta of 1.15. Shake Shack has a one year low of $30.00 and a one year high of $53.50.
Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, August 10th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The company earned $66.50 million during the quarter, compared to the consensus estimate of $63.07 million. Shake Shack had a net margin of 3.35% and a return on equity of 8.09%. The firm’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share. On average, analysts anticipate that Shake Shack will post $0.45 earnings per share for the current fiscal year.
In other news, Director Equity Investors Vi L.P Green sold 50,000 shares of the stock in a transaction on Friday, July 1st. The shares were sold at an average price of $36.66, for a total value of $1,833,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Equity Group L.P. Select sold 36,000 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $34.26, for a total transaction of $1,233,360.00. The disclosure for this sale can be found here. 44.69% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of Shake Shack by 110.3% in the second quarter. Royal Bank of Canada now owns 11,990 shares of the company’s stock worth $437,000 after buying an additional 6,289 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Shake Shack by 220.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 30,960 shares of the company’s stock valued at $1,128,000 after buying an additional 21,310 shares in the last quarter. Numeric Investors LLC raised its position in Shake Shack by 0.6% in the second quarter. Numeric Investors LLC now owns 94,268 shares of the company’s stock valued at $3,434,000 after buying an additional 600 shares in the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in Shake Shack during the second quarter valued at approximately $1,366,000. Finally, A.R.T. Advisors LLC acquired a new position in Shake Shack during the second quarter valued at approximately $843,000. 93.41% of the stock is currently owned by hedge funds and other institutional investors.
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.
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