Shake Shack (NYSE:SHAK) Price Target Raised to $108.00 at Barclays

Shake Shack (NYSE:SHAK) had its target price lifted by equities researchers at Barclays from $92.00 to $108.00 in a report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential downside of 0.68% from the stock’s previous close.

A number of other brokerages have also issued reports on SHAK. Wedbush raised their price target on Shake Shack from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday. StockNews.com cut Shake Shack from a “hold” rating to a “sell” rating in a report on Monday, March 4th. Morgan Stanley boosted their price objective on Shake Shack from $88.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Raymond James boosted their price objective on Shake Shack from $90.00 to $115.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 16th. Finally, BTIG Research boosted their price objective on Shake Shack from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $94.83.

Shake Shack Stock Performance

SHAK traded up $3.80 during midday trading on Friday, reaching $108.74. The company had a trading volume of 550,008 shares, compared to its average volume of 946,706. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average of $102.18 and a two-hundred day moving average of $80.05. The company has a market cap of $4.60 billion, a P/E ratio of 234.50, a P/E/G ratio of 3.72 and a beta of 1.78. Shake Shack has a 1 year low of $52.79 and a 1 year high of $110.90.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. Shake Shack had a return on equity of 3.67% and a net margin of 1.82%. The firm had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $291.00 million. During the same quarter last year, the business posted ($0.01) earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. As a group, equities research analysts predict that Shake Shack will post 0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeffrey Flug sold 304 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $103.01, for a total transaction of $31,315.04. Following the completion of the transaction, the director now owns 3,754 shares in the company, valued at $386,699.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total transaction of $31,315.04. Following the transaction, the director now directly owns 3,754 shares of the company’s stock, valued at $386,699.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $95.25, for a total value of $2,857,500.00. Following the transaction, the director now directly owns 550,437 shares of the company’s stock, valued at approximately $52,429,124.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,760 shares of company stock worth $10,190,420. 10.06% of the stock is currently owned by insiders.

Institutional Trading of Shake Shack

Several hedge funds and other institutional investors have recently bought and sold shares of SHAK. Allspring Global Investments Holdings LLC bought a new position in Shake Shack in the 1st quarter valued at $25,000. GAMMA Investing LLC bought a new position in Shake Shack in the 4th quarter valued at $32,000. Ramirez Asset Management Inc. bought a new position in Shake Shack in the 3rd quarter valued at $35,000. C M Bidwell & Associates Ltd. grew its position in shares of Shake Shack by 122.6% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock worth $65,000 after buying an additional 612 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Shake Shack during the first quarter valued at about $97,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

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.