Shake Shack (NYSE:SHAK) Price Target Raised to $124.00 at Truist Financial

Shake Shack (NYSE:SHAK) had its target price upped by Truist Financial from $115.00 to $124.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

SHAK has been the topic of several other research reports. BTIG Research upped their price objective on Shake Shack from $110.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, March 14th. TD Cowen reissued a buy rating and set a $125.00 price target on shares of Shake Shack in a report on Thursday. Morgan Stanley lifted their price objective on shares of Shake Shack from $88.00 to $105.00 and gave the company an equal weight rating in a report on Friday, April 12th. 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 research note on Monday, March 4th. Finally, StockNews.com cut Shake Shack from a hold rating to a sell rating in a research report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $96.33.

Shake Shack Stock Performance

NYSE SHAK traded up $2.53 on Friday, reaching $107.47. 998,288 shares of the company’s stock traded hands, compared to its average volume of 746,591. Shake Shack has a fifty-two week low of $52.79 and a fifty-two week high of $110.90. 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 firm has a market cap of $4.55 billion, a price-to-earnings ratio of 195.40, a P/E/G ratio of 3.71 and a beta of 1.78. The stock has a 50 day moving average price of $102.37 and a 200-day moving average price of $80.42.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data 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. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The business had revenue of $290.50 million during the quarter, compared to analyst estimates of $291.00 million. During the same quarter last year, the business posted ($0.01) EPS. The company’s revenue was up 14.7% on a year-over-year basis. Equities research analysts predict that Shake Shack will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 23,966 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 526,471 shares in the company, valued at approximately $52,715,541.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the business’s 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 sale, the director now directly owns 3,754 shares in the company, valued at $386,699.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 23,966 shares of the firm’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 transaction of $2,399,715.58. Following the completion of the transaction, the director now directly owns 526,471 shares of the company’s stock, valued at approximately $52,715,541.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,760 shares of company stock worth $10,190,420. Company insiders own 10.06% of the company’s stock.

Institutional Trading of Shake Shack

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in Shake Shack during the 1st quarter worth $25,000. GAMMA Investing LLC purchased a new position in shares of Shake Shack in the 4th quarter valued at about $32,000. Ramirez Asset Management Inc. acquired a new position in shares of Shake Shack during the third quarter worth about $35,000. C M Bidwell & Associates Ltd. increased its stake in shares of Shake Shack by 122.6% during the third 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 during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Shake Shack in the first quarter valued at approximately $97,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.