Shake Shack (NYSE:SHAK) Stock Price Up 5.2% – Still a Buy?

Shake Shack, Inc. (NYSE:SHAK)’s share price shot up 5.2% during trading on Tuesday . The company traded as high as $61.39 and last traded at $61.4150. 679,151 shares were traded during mid-day trading, a decline of 63% from the average session volume of 1,839,838 shares. The stock had previously closed at $58.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SHAK shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $117.00 price target on shares of Shake Shack in a research note on Wednesday, April 15th. Robert W. Baird lowered their target price on shares of Shake Shack from $76.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Guggenheim dropped their target price on shares of Shake Shack from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. DA Davidson cut their price target on shares of Shake Shack from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. Finally, Wolfe Research assumed coverage on shares of Shake Shack in a report on Monday, March 9th. They issued an “outperform” rating and a $118.00 price target for the company. Sixteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $94.56.

Shake Shack Price Performance

The stock has a 50-day moving average price of $76.39 and a 200 day moving average price of $84.81. The firm has a market capitalization of $2.51 billion, a PE ratio of 59.66, a PEG ratio of 2.68 and a beta of 1.63. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.45.

Insider Buying and Selling at Shake Shack

In related news, Director Sumaiya Balbale purchased 4,068 shares of Shake Shack stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $61.42 per share, for a total transaction of $249,856.56. Following the transaction, the director directly owned 13,407 shares in the company, valued at approximately $823,457.94. This trade represents a 43.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Josh Silverman purchased 8,290 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average cost of $60.38 per share, for a total transaction of $500,550.20. Following the completion of the purchase, the director directly owned 8,290 shares in the company, valued at $500,550.20. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 50,616 shares of company stock valued at $3,109,782. Corporate insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently made changes to their positions in SHAK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Shake Shack by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,627 shares of the company’s stock worth $1,995,000 after purchasing an additional 976 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Shake Shack by 4,210.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,500 shares of the company’s stock valued at $220,000 after purchasing an additional 2,442 shares in the last quarter. United Services Automobile Association purchased a new position in Shake Shack in the 1st quarter valued at $219,000. Geneos Wealth Management Inc. acquired a new stake in Shake Shack during the 1st quarter worth $26,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Shake Shack by 159.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 748 shares of the company’s stock worth $105,000 after purchasing an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Company Profile

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.