BidaskClub upgraded shares of Shake Shack, Inc. (NYSE:SHAK) from a strong sell rating to a sell rating in a research report released on Saturday.

A number of other brokerages also recently commented on SHAK. Wedbush reissued an outperform rating and issued a $40.00 price objective (down previously from $43.00) on shares of Shake Shack in a research report on Sunday, July 30th. Cowen and Company restated a hold rating and set a $35.00 target price on shares of Shake Shack in a research note on Tuesday, September 12th. SunTrust Banks, Inc. set a $48.00 target price on shares of Shake Shack and gave the stock a buy rating in a research note on Tuesday, June 27th. Vetr cut shares of Shake Shack from a strong-buy rating to a buy rating and set a $42.33 target price for the company. in a research note on Wednesday, June 7th. Finally, Barclays PLC cut their target price on shares of Shake Shack from $35.00 to $34.00 and set an equal weight rating for the company in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $37.60.

Shake Shack (SHAK) opened at 33.58 on Friday. Shake Shack has a 12 month low of $30.52 and a 12 month high of $39.70. The stock’s 50 day moving average is $31.54 and its 200-day moving average is $31.54. The firm has a market cap of $872.44 million, a price-to-earnings ratio of 58.50 and a beta of 1.30.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. Shake Shack had a net margin of 4.70% and a return on equity of 8.71%. The company had revenue of $91.30 million during the quarter, compared to the consensus estimate of $89.00 million. During the same quarter last year, the firm posted $0.14 EPS. The company’s quarterly revenue was up 37.3% on a year-over-year basis. On average, analysts anticipate that Shake Shack will post $0.52 earnings per share for the current fiscal year.

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In other Shake Shack news, CEO Randall J. Garutti sold 16,000 shares of Shake Shack stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $34.82, for a total value of $557,120.00. Following the completion of the sale, the chief executive officer now owns 26,961 shares in the company, valued at approximately $938,782.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Flug sold 4,800 shares of Shake Shack stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $30.96, for a total transaction of $148,608.00. Following the completion of the sale, the director now owns 4,415 shares of the company’s stock, valued at approximately $136,688.40. The disclosure for this sale can be found here. Insiders sold a total of 150,452 shares of company stock valued at $4,779,481 in the last quarter. Corporate insiders own 34.91% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. FNY Partners Fund LP bought a new position in Shake Shack in the 1st quarter valued at about $100,000. State of Alaska Department of Revenue increased its holdings in Shake Shack by 85.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,630 shares of the company’s stock valued at $126,000 after buying an additional 1,670 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Shake Shack by 206.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,666 shares of the company’s stock valued at $122,000 after buying an additional 2,469 shares during the period. Victory Capital Management Inc. increased its holdings in Shake Shack by 109.7% in the 1st quarter. Victory Capital Management Inc. now owns 3,715 shares of the company’s stock valued at $124,000 after buying an additional 1,943 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new position in Shake Shack in the 1st quarter valued at about $137,000. 82.30% 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’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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