Shake Shack (NYSE:SHAK) Stock Rating Upgraded by JPMorgan Chase & Co.

Shake Shack (NYSE:SHAK) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Thursday,Benzinga reports. The brokerage currently has a $90.00 target price on the stock, down from their previous target price of $95.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.43% from the company’s previous close.

Other research analysts have also issued reports about the stock. UBS Group decreased their target price on shares of Shake Shack from $140.00 to $104.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Shake Shack in a research note on Tuesday, November 25th. The Goldman Sachs Group lowered their price target on shares of Shake Shack from $160.00 to $137.00 and set a “buy” rating on the stock in a research report on Tuesday, September 30th. Truist Financial dropped their price objective on shares of Shake Shack from $162.00 to $156.00 and set a “buy” rating for the company in a report on Monday, September 29th. Finally, Bank of America reaffirmed an “underperform” rating and set a $86.00 target price (down from $148.00) on shares of Shake Shack in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $119.10.

Shake Shack Stock Up 0.7%

NYSE SHAK opened at $82.24 on Thursday. The business has a fifty day moving average price of $88.32 and a 200 day moving average price of $107.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.84. The company has a market cap of $3.51 billion, a P/E ratio of 80.63, a P/E/G ratio of 2.13 and a beta of 1.67. Shake Shack has a one year low of $72.93 and a one year high of $144.65.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, October 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. Shake Shack had a net margin of 3.10% and a return on equity of 10.43%. The company had revenue of $367.41 million for the quarter, compared to analysts’ expectations of $363.69 million. During the same quarter in the previous year, the company posted $0.25 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Research analysts anticipate that Shake Shack will post 1.26 EPS for the current fiscal year.

Insider Activity

In related news, insider Stephanie Ann Sentell sold 1,100 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $85.14, for a total value of $93,654.00. Following the sale, the insider directly owned 9,907 shares in the company, valued at approximately $843,481.98. The trade was a 9.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC lifted its holdings in shares of Shake Shack by 100.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,165 shares of the company’s stock worth $296,000 after acquiring an additional 1,585 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Shake Shack in the 3rd quarter valued at approximately $388,000. Advisory Services Network LLC purchased a new stake in Shake Shack in the third quarter valued at approximately $38,000. Hancock Whitney Corp acquired a new position in Shake Shack during the third quarter worth $269,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Shake Shack by 1.1% during the third quarter. CANADA LIFE ASSURANCE Co now owns 41,250 shares of the company’s stock worth $3,901,000 after buying an additional 435 shares during the period. 86.07% of the stock is owned by hedge funds and other 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.