Shake Shack, Inc. (NYSE:SHAK) Stock Has Consensus Price Target of $87.22 According to Analysts

Shares of Shake Shack, Inc. (NYSE:SHAK) have been given a consensus rating of “Moderate Buy” by the twenty-eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $87.22.

SHAK has been the subject of a number of recent analyst reports. Robert W. Baird upgraded shares of Shake Shack to a “hold” rating in a research report on Monday, August 24th. Mizuho set a $90.00 price objective on Shake Shack in a research report on Thursday, August 6th. Piper Sandler lowered their price objective on Shake Shack from $79.00 to $66.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. BNP Paribas Exane lifted their price objective on Shake Shack from $77.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. reduced their target price on Shake Shack from $77.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 29th.

Institutional Trading of Shake Shack

Several institutional investors and hedge funds have recently modified their holdings of SHAK. 12 West Capital Management LP grew its holdings in shares of Shake Shack by 12.0% during the fourth quarter. 12 West Capital Management LP now owns 1,963,595 shares of the company’s stock worth $159,385,000 after purchasing an additional 210,000 shares in the last quarter. Bank of America Corp DE raised its stake in Shake Shack by 9.3% in the first quarter. Bank of America Corp DE now owns 899,013 shares of the company’s stock valued at $79,536,000 after purchasing an additional 76,724 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Shake Shack by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 670,111 shares of the company’s stock valued at $59,276,000 after buying an additional 16,439 shares in the last quarter. Cannell & Spears LLC increased its stake in Shake Shack by 27.4% in the first quarter. Cannell & Spears LLC now owns 452,694 shares of the company’s stock valued at $40,022,000 after acquiring an additional 97,446 shares during the last quarter. Finally, Wasatch Advisors LP increased its stake in Shake Shack by 16.5% in the first quarter. Wasatch Advisors LP now owns 407,283 shares of the company’s stock valued at $36,032,000 after acquiring an additional 57,612 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Price Performance

SHAK stock opened at $66.87 on Tuesday. The firm has a 50 day moving average of $66.15 and a 200-day moving average of $69.56. The firm has a market capitalization of $2.86 billion, a P/E ratio of 71.14, a price-to-earnings-growth ratio of 7.32 and a beta of 1.68. Shake Shack has a 12 month low of $51.60 and a 12 month high of $107.46. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43.

Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, August 5th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. Shake Shack had a net margin of 2.56% and a return on equity of 9.29%. The business had revenue of $417.62 million for the quarter, compared to analyst estimates of $417.18 million. During the same quarter in the prior year, the firm posted $0.44 EPS. Shake Shack’s revenue was up 17.2% on a year-over-year basis. As a group, sell-side analysts predict that Shake Shack will post 1.13 earnings per share for the current fiscal year.

About Shake Shack

Shake Shack Inc operates a fast-casual restaurant brand known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, milkshakes, and beverages including beer and wine at select locations. Its menu emphasizes premium ingredients and includes vegetarian and other non-meat options.

The company began as a seasonal hot dog cart in Madison Square Park in New York City in 2001 and opened its first permanent restaurant there in 2004. Shake Shack has since expanded through a combination of company-operated and licensed restaurants, with locations across the United States and in international markets, including parts of Asia, Europe and the Middle East.

Shake Shack also offers digital ordering, delivery, catering and merchandise.