Shake Shack (NYSE:SHAK) Price Target Raised to $115.00 at UBS Group

Shake Shack (NYSE:SHAK) had its price objective boosted by UBS Group from $110.00 to $115.00 in a report published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts also recently issued reports on the company. StockNews.com downgraded Shake Shack from a hold rating to a sell rating in a report on Monday, March 4th. Robert W. Baird increased their price target on shares of Shake Shack from $102.00 to $105.00 and gave the stock a neutral rating in a research report on Friday. BTIG Research lifted their price objective on shares of Shake Shack from $110.00 to $120.00 and gave the company a buy rating in a report on Thursday, March 14th. JPMorgan Chase & Co. increased their target price on shares of Shake Shack from $65.00 to $100.00 and gave the stock an underweight rating in a report on Monday, March 4th. Finally, Barclays upped their price target on Shake Shack from $92.00 to $108.00 and gave the stock an equal weight rating in a report on Friday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $96.33.

Shake Shack Trading Up 2.4 %

Shares of NYSE SHAK traded up $2.53 during midday trading on Friday, reaching $107.47. 998,288 shares of the stock were exchanged, compared to its average volume of 746,591. The company has a 50 day simple moving average of $102.37 and a 200 day simple moving average of $80.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.01 and a current ratio of 2.03. The stock has a market capitalization of $4.55 billion, a P/E ratio of 195.40, a PEG ratio of 3.71 and a beta of 1.78. Shake Shack has a twelve month low of $52.79 and a twelve month high of $110.90.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the business earned ($0.01) earnings per share. As a group, equities analysts expect that Shake Shack will post 0.72 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 23,966 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $100.13, for a total value of $2,399,715.58. Following the completion of the sale, the director now directly owns 526,471 shares of the company’s stock, valued at approximately $52,715,541.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $103.01, for a total transaction of $31,315.04. Following the completion of the sale, the director now directly owns 3,754 shares of the company’s stock, valued at approximately $386,699.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 23,966 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $100.13, for a total value of $2,399,715.58. Following the completion of the transaction, the director now directly owns 526,471 shares in the company, valued at approximately $52,715,541.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,760 shares of company stock valued at $10,190,420. 10.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Shake Shack

A number of hedge funds and other institutional investors have recently bought and sold shares of SHAK. 12 West Capital Management LP boosted its holdings in shares of Shake Shack by 82.2% in the third quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock valued at $96,373,000 after acquiring an additional 748,789 shares in the last quarter. Linonia Partnership LP purchased a new stake in shares of Shake Shack in the 4th quarter worth about $41,046,000. Qube Research & Technologies Ltd raised its position in shares of Shake Shack by 130.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock worth $25,370,000 after purchasing an additional 246,952 shares during the last quarter. Van Berkom & Associates Inc. increased its position in Shake Shack by 19.3% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company’s stock worth $60,761,000 after purchasing an additional 168,947 shares in the last quarter. Finally, Norges Bank acquired a new position in Shake Shack in the 4th quarter valued at about $12,238,000. 86.07% of the stock is currently owned by hedge funds and other 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.