Shake Shack (NYSE:SHAK) Price Target Raised to $105.00 at Morgan Stanley

Shake Shack (NYSE:SHAK) had its price target hoisted by Morgan Stanley from $88.00 to $105.00 in a report published on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages have also commented on SHAK. Oppenheimer boosted their price objective on shares of Shake Shack from $108.00 to $120.00 and gave the stock an outperform rating in a research report on Friday, March 22nd. Wedbush reissued a neutral rating and issued a $80.00 price objective on shares of Shake Shack in a research report on Wednesday, February 14th. StockNews.com lowered shares of Shake Shack from a hold rating to a sell rating in a research report on Monday, March 4th. UBS Group upped their price target on shares of Shake Shack from $80.00 to $88.00 and gave the stock a neutral rating in a research report on Monday, February 12th. Finally, Raymond James upped their price target on shares of Shake Shack from $90.00 to $115.00 and gave the stock a strong-buy rating in a research report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $88.67.

Shake Shack Stock Down 0.1 %

Shake Shack stock opened at $97.11 on Friday. The stock has a market capitalization of $4.11 billion, a PE ratio of 211.10, a price-to-earnings-growth ratio of 3.66 and a beta of 1.80. Shake Shack has a twelve month low of $52.64 and a twelve month high of $110.90. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $98.74 and a 200-day moving average of $76.39.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $286.20 million during the quarter, compared to analysts’ expectations of $280.45 million. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.06) earnings per share. On average, equities research analysts anticipate that Shake Shack will post 0.71 EPS for the current fiscal year.

Insider Activity at Shake Shack

In related news, Director Daniel Harris Meyer sold 23,966 shares of Shake Shack stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the sale, the director now directly owns 526,471 shares of the company’s stock, valued at approximately $52,715,541.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Daniel Harris Meyer sold 23,966 shares of Shake Shack stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the sale, the director now directly owns 526,471 shares in the company, valued at approximately $52,715,541.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $103.01, for a total transaction of $31,315.04. Following the sale, the director now owns 3,754 shares in the company, valued at $386,699.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,912 shares of company stock valued at $10,201,834. 10.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Shake Shack

Several hedge funds have recently added to or reduced their stakes in SHAK. GAMMA Investing LLC acquired a new position in shares of Shake Shack in the 4th quarter worth approximately $32,000. Ramirez Asset Management Inc. acquired a new position in shares of Shake Shack in the 3rd quarter worth approximately $35,000. Natixis acquired a new position in shares of Shake Shack in the 4th quarter worth approximately $53,000. Tower Research Capital LLC TRC increased its stake in shares of Shake Shack by 67.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 989 shares of the company’s stock valued at $55,000 after acquiring an additional 400 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. increased its stake in shares of Shake Shack by 122.6% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock valued at $65,000 after acquiring an additional 612 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.