Shake Shack Inc. (SHAK) Rating Reiterated by Wedbush
Shake Shack Inc. (NYSE:SHAK)‘s stock had its “underperform” rating restated by analysts at Wedbush in a note issued to investors on Saturday. They currently have a $28.00 target price on the stock, down from their prior target price of $39.00. Wedbush’s price objective suggests a potential downside of 13.31% from the stock’s current price.
A number of other equities analysts also recently commented on SHAK. Zacks Investment Research downgraded Shake Shack from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. SunTrust Banks Inc. raised Shake Shack from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $40.87 to $48.00 in a research report on Thursday, August 11th. Vetr downgraded Shake Shack from a “hold” rating to a “sell” rating and set a $37.50 price target for the company. in a report on Wednesday, July 20th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $38.00 price target on shares of Shake Shack in a report on Wednesday, September 28th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $36.00 price target (down from $38.00) on shares of Shake Shack in a report on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Shake Shack has a consensus rating of “Hold” and an average price target of $39.73.
Shares of Shake Shack (NYSE:SHAK) traded up 0.28% during midday trading on Friday, hitting $32.30. 370,113 shares of the stock were exchanged. Shake Shack has a one year low of $30.00 and a one year high of $53.50. The company has a market cap of $773.68 million, a price-to-earnings ratio of 79.75 and a beta of 1.15. The firm has a 50 day moving average of $34.51 and a 200-day moving average of $36.42.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. Shake Shack had a return on equity of 8.09% and a net margin of 3.35%. The business earned $66.50 million during the quarter, compared to the consensus estimate of $63.07 million. During the same period in the previous year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up 37.1% on a year-over-year basis. Equities analysts expect that Shake Shack will post $0.45 EPS for the current year.
In other news, Director Daniel Harris Meyer sold 29,900 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $40.02, for a total transaction of $1,196,598.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Richard D. Coraine sold 59,362 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $40.00, for a total value of $2,374,480.00. Following the sale, the insider now owns 5,000 shares of the company’s stock, valued at approximately $200,000. The disclosure for this sale can be found here. Insiders own 44.69% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. bought a new stake in Shake Shack during the third quarter valued at approximately $413,000. Royal Bank of Canada boosted its stake in Shake Shack by 110.3% in the second quarter. Royal Bank of Canada now owns 11,990 shares of the company’s stock valued at $437,000 after buying an additional 6,289 shares during the period. Schwab Charles Investment Management Inc. boosted its stake 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 during the period. Numeric Investors LLC boosted its stake 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 during the period. Finally, Weiss Multi Strategy Advisers LLC bought a new stake in Shake Shack during the second quarter valued at approximately $1,366,000. 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.
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