Guggenheim Cuts Shake Shack (NYSE:SHAK) Price Target to $100.00

Shake Shack (NYSE:SHAK) had its target price dropped by investment analysts at Guggenheim from $120.00 to $100.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 54.34% from the stock’s previous close.

A number of other brokerages also recently issued reports on SHAK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $117.00 price target on shares of Shake Shack in a report on Wednesday, April 15th. Zacks Research raised shares of Shake Shack from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Mizuho set a $100.00 target price on shares of Shake Shack in a report on Friday. Piper Sandler set a $79.00 target price on shares of Shake Shack in a research note on Thursday. Finally, DA Davidson set a $85.00 price target on shares of Shake Shack in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $107.08.

Shake Shack Stock Performance

Shares of Shake Shack stock traded down $5.35 during trading hours on Monday, reaching $64.79. The company had a trading volume of 4,741,745 shares, compared to its average volume of 1,618,292. The firm has a market cap of $2.77 billion, a PE ratio of 65.72, a price-to-earnings-growth ratio of 2.93 and a beta of 1.78. Shake Shack has a one year low of $63.51 and a one year high of $144.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.66. The business has a fifty day simple moving average of $94.14 and a 200 day simple moving average of $91.01.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.11). Shake Shack had a net margin of 2.76% and a return on equity of 9.62%. The company had revenue of $366.74 million for the quarter, compared to the consensus estimate of $372.43 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, analysts anticipate that Shake Shack will post 1.3 earnings per share for the current fiscal year.

Insider Transactions at Shake Shack

In related news, insider Stephanie Ann Sentell sold 258 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $102.21, for a total value of $26,370.18. Following the completion of the transaction, the insider directly owned 15,084 shares in the company, valued at approximately $1,541,735.64. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Several hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Shake Shack by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,627 shares of the company’s stock valued at $1,995,000 after purchasing an additional 976 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Shake Shack by 4,210.3% in the first quarter. Jones Financial Companies Lllp now owns 2,500 shares of the company’s stock worth $220,000 after buying an additional 2,442 shares in the last quarter. United Services Automobile Association purchased a new stake in Shake Shack in the first quarter worth approximately $219,000. Geneos Wealth Management Inc. bought a new position in Shake Shack during the first quarter valued at approximately $26,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Shake Shack by 159.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 748 shares of the company’s stock worth $105,000 after acquiring an additional 460 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

About Shake Shack

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.