Shake Shack Inc. (SHAK) Receives $40.60 Consensus Target Price from Brokerages
Shares of Shake Shack Inc. (NYSE:SHAK) have been assigned an average rating of “Hold” from the fourteen analysts that are covering the stock. Three research analysts have rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $40.42.
Several brokerages have issued reports on SHAK. Wedbush reaffirmed an “underperform” rating and issued a $28.00 target price (down previously from $39.00) on shares of Shake Shack in a research note on Saturday. Zacks Investment Research raised Shake Shack from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Wednesday, October 5th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $38.00 target price on shares of Shake Shack in a research note on Wednesday, September 28th. Buckingham Research reissued a “buy” rating and set a $45.00 price objective on shares of Shake Shack in a research note on Friday, September 16th. Finally, Vetr raised Shake Shack from a “buy” rating to a “strong-buy” rating and set a $39.64 price objective for the company in a research note on Monday, September 5th.
Shares of Shake Shack (NYSE:SHAK) opened at 32.30 on Friday. The company has a 50-day moving average of $34.51 and a 200 day moving average of $36.42. The firm has a market cap of $773.68 million, a P/E ratio of 79.75 and a beta of 1.15. Shake Shack has a 52-week low of $30.00 and a 52-week high of $53.50.
Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, August 10th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business earned $66.50 million during the quarter, compared to analyst estimates of $63.07 million. Shake Shack had a return on equity of 8.09% and a net margin of 3.35%. Shake Shack’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. On average, equities analysts expect that Shake Shack will post $0.45 earnings per share for the current year.
In other Shake Shack news, CEO Randall J. Garutti sold 8,000 shares of the stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $32.28, for a total value of $258,240.00. Following the completion of the transaction, the chief executive officer now owns 11,100 shares in the company, valued at $358,308. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Laura J. Sloate sold 2,500 shares of the stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $35.50, for a total value of $88,750.00. Following the completion of the transaction, the insider now owns 20,000 shares of the company’s stock, valued at approximately $710,000. The disclosure for this sale can be found here. Corporate insiders own 44.69% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC increased 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 period. Lord Abbett & CO. LLC increased its position in Shake Shack by 223.7% in the second quarter. Lord Abbett & CO. LLC now owns 1,061,520 shares of the company’s stock worth $38,671,000 after buying an additional 733,625 shares during the period. Vanguard Group Inc. increased its position in Shake Shack by 270.0% in the second quarter. Vanguard Group Inc. now owns 937,625 shares of the company’s stock worth $34,157,000 after buying an additional 684,234 shares during the period. Blair William & Co. IL increased its position in Shake Shack by 111.6% in the second quarter. Blair William & Co. IL now owns 489,933 shares of the company’s stock worth $17,848,000 after buying an additional 258,341 shares during the period. Finally, BlackRock Fund Advisors increased its position in Shake Shack by 168.6% in the second quarter. BlackRock Fund Advisors now owns 368,818 shares of the company’s stock worth $13,436,000 after buying an additional 231,532 shares during the period. Institutional investors and hedge funds own 93.41% of the company’s stock.
About Shake Shack
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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