Shake Shack (NYSE:SHAK) Price Target Raised to $110.00

Shake Shack (NYSE:SHAK) had its target price raised by Wedbush from $100.00 to $110.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

SHAK has been the topic of a number of other reports. Truist Financial raised their price objective on shares of Shake Shack from $112.00 to $115.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Robert W. Baird boosted their target price on Shake Shack from $102.00 to $105.00 and gave the stock a neutral rating in a research report on Friday. Raymond James increased their price target on shares of Shake Shack from $90.00 to $115.00 and gave the company a strong-buy rating in a research report on Friday, February 16th. BTIG Research lifted their price objective on shares of Shake Shack from $110.00 to $120.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Finally, UBS Group upped their target price on shares of Shake Shack from $80.00 to $88.00 and gave the company a neutral rating in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Shake Shack presently has a consensus rating of Hold and an average target price of $96.33.

Shake Shack Stock Performance

SHAK stock traded up $2.53 during trading on Friday, reaching $107.47. 998,288 shares of the stock were exchanged, compared to its average volume of 746,591. Shake Shack has a twelve month low of $52.79 and a twelve month high of $110.90. The company has a market capitalization of $4.55 billion, a P/E ratio of 195.40, a price-to-earnings-growth ratio of 3.71 and a beta of 1.78. The stock has a 50 day simple moving average of $102.37 and a 200-day simple moving average of $80.42. The company has a current ratio of 2.03, a quick ratio of 2.01 and a debt-to-equity ratio of 0.52.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $290.50 million for the quarter, compared to analysts’ expectations of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. As a group, sell-side analysts anticipate that Shake Shack will post 0.72 earnings per share for the current year.

Insider Buying and Selling

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the transaction, the director now owns 550,437 shares in the company, valued at approximately $52,429,124.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $95.25, for a total value of $2,857,500.00. Following the transaction, the director now directly owns 550,437 shares of the company’s stock, valued at $52,429,124.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $108.05, for a total value of $32,847.20. Following the completion of the transaction, the director now owns 4,058 shares in the company, valued at approximately $438,466.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,760 shares of company stock valued at $10,190,420. Company insiders own 10.06% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Several large investors have recently bought and sold shares of SHAK. Allspring Global Investments Holdings LLC bought a new stake in shares of Shake Shack in the 1st quarter valued at about $25,000. GAMMA Investing LLC purchased a new stake in Shake Shack in the 4th quarter valued at $32,000. Ramirez Asset Management Inc. bought a new position in shares of Shake Shack during the third quarter valued at about $35,000. C M Bidwell & Associates Ltd. boosted 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 worth $65,000 after buying an additional 612 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Shake Shack in the 1st quarter worth about $97,000. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Company Profile

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.