Stifel Nicolaus began coverage on shares of Shake Shack (NYSE:SHAK) in a report released on Tuesday morning, MarketBeat reports. The brokerage issued a hold rating and a $65.00 price objective on the stock.

A number of other analysts have also commented on SHAK. Zacks Investment Research lowered Shake Shack from a strong-buy rating to a hold rating in a research note on Thursday, October 4th. Wedbush reaffirmed a hold rating and set a $62.00 price objective on shares of Shake Shack in a research note on Friday, August 3rd. Morgan Stanley raised their price target on Shake Shack from $47.00 to $51.00 and gave the stock an equal weight rating in a research note on Monday, July 16th. Cowen reissued a hold rating and issued a $59.00 price target on shares of Shake Shack in a research note on Wednesday, July 25th. Finally, Barclays raised their price target on Shake Shack from $52.00 to $59.00 and gave the stock an equal weight rating in a research note on Monday, August 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $54.20.

SHAK opened at $57.11 on Tuesday. The firm has a market cap of $2.33 billion, a P/E ratio of 99.07, a P/E/G ratio of 4.59 and a beta of 1.21. Shake Shack has a 52 week low of $33.30 and a 52 week high of $70.12.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.11. The business had revenue of $116.30 million for the quarter, compared to analyst estimates of $110.70 million. Shake Shack had a return on equity of 10.39% and a net margin of 0.42%. The business’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 earnings per share. Research analysts expect that Shake Shack will post 0.61 EPS for the current year.

In other news, Director Daniel Harris Meyer sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $61.81, for a total value of $4,635,750.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Equity Group L.P. Select sold 42,600 shares of the firm’s stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $58.70, for a total value of $2,500,620.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,377,519 shares of company stock worth $81,623,350. 30.18% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in SHAK. Prudential Financial Inc. raised its holdings in shares of Shake Shack by 5.5% in the 1st quarter. Prudential Financial Inc. now owns 31,860 shares of the company’s stock worth $1,326,000 after purchasing an additional 1,650 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Shake Shack by 18.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 98,501 shares of the company’s stock worth $4,101,000 after purchasing an additional 15,328 shares during the period. BlackRock Inc. raised its holdings in shares of Shake Shack by 4.1% in the 1st quarter. BlackRock Inc. now owns 2,529,829 shares of the company’s stock worth $105,318,000 after purchasing an additional 100,166 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Shake Shack by 7.2% in the 1st quarter. New York State Common Retirement Fund now owns 25,200 shares of the company’s stock worth $1,049,000 after purchasing an additional 1,700 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Shake Shack by 12.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 115,486 shares of the company’s stock worth $4,808,000 after purchasing an additional 13,000 shares during the period. Institutional investors own 87.45% of the company’s stock.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 27, 2017, it had 159 Shacks, including 90 domestic company-operated Shacks, 10 domestic licensed Shacks, and 59 international licensed Shacks.

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Analyst Recommendations for Shake Shack (NYSE:SHAK)

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