Shake Shack (NYSE:SHAK) Lifted to “Buy” at Northcoast Research

Northcoast Research upgraded shares of Shake Shack (NYSE:SHAK) from a neutral rating to a buy rating in a research note issued to investors on Friday morning, Marketbeat reports. They currently have $85.00 target price on the stock.

Several other analysts have also commented on SHAK. Wedbush reiterated a neutral rating and issued a $73.00 price target on shares of Shake Shack in a research report on Friday, August 4th. TD Cowen raised their target price on shares of Shake Shack from $75.00 to $78.00 and gave the stock a market perform rating in a research report on Friday, August 4th. Truist Financial raised their target price on shares of Shake Shack from $90.00 to $95.00 and gave the stock a buy rating in a research report on Friday, August 4th. JPMorgan Chase & Co. raised their target price on shares of Shake Shack from $66.00 to $71.00 in a research report on Monday, August 7th. Finally, BTIG Research raised their target price on shares of Shake Shack from $75.00 to $85.00 in a research report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $73.69.

Shake Shack Stock Performance

NYSE SHAK opened at $63.14 on Friday. The company has a fifty day moving average of $72.73 and a two-hundred day moving average of $66.47. Shake Shack has a 1 year low of $40.83 and a 1 year high of $80.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 2.16. The company has a market capitalization of $2.67 billion, a PE ratio of -315.68 and a beta of 1.72.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. The company had revenue of $271.80 million during the quarter, compared to analysts’ expectations of $274.55 million. Shake Shack had a negative net margin of 0.74% and a positive return on equity of 0.64%. Shake Shack’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, analysts expect that Shake Shack will post 0.25 earnings per share for the current year.

Insider Activity

In other Shake Shack news, Director Jeffrey Flug sold 1,987 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $69.86, for a total transaction of $138,811.82. Following the completion of the transaction, the director now directly owns 6,511 shares of the company’s stock, valued at approximately $454,858.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Shake Shack news, Director Jeffrey Flug sold 1,987 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $69.86, for a total transaction of $138,811.82. Following the sale, the director now directly owns 6,511 shares in the company, valued at approximately $454,858.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Zach Koff sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the sale, the chief operating officer now owns 38,682 shares in the company, valued at $2,901,150. The disclosure for this sale can be found here. Company insiders own 10.06% of the company’s stock.

Institutional Trading of Shake Shack

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Shake Shack by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 4,071,207 shares of the company’s stock worth $276,435,000 after purchasing an additional 48,614 shares in the last quarter. State Street Corp raised its holdings in shares of Shake Shack by 2.4% in the 2nd quarter. State Street Corp now owns 1,318,230 shares of the company’s stock worth $102,453,000 after purchasing an additional 30,401 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Shake Shack by 44.3% in the 1st quarter. Champlain Investment Partners LLC now owns 1,289,965 shares of the company’s stock worth $71,580,000 after purchasing an additional 395,760 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Shake Shack by 634.8% in the 4th quarter. Marshall Wace LLP now owns 1,029,880 shares of the company’s stock worth $42,771,000 after purchasing an additional 889,714 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Shake Shack by 4.4% in the 2nd quarter. Geode Capital Management LLC now owns 723,269 shares of the company’s stock worth $56,212,000 after purchasing an additional 30,739 shares in the last quarter. 91.70% of the stock is currently owned by institutional investors.

About Shake Shack

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.