Shake Shack (NYSE:SHAK) Price Target Raised to $110.00

Shake Shack (NYSE:SHAK) had its price objective hoisted by Wedbush from $100.00 to $110.00 in a research note released on Friday, Benzinga reports. Wedbush currently has a neutral rating on the stock.

A number of other analysts have also weighed in on SHAK. Morgan Stanley raised their target price on shares of Shake Shack from $88.00 to $105.00 and gave the company an equal weight rating in a research report on Friday, April 12th. BTIG Research upped their target price on Shake Shack from $110.00 to $120.00 and gave the company a buy rating in a research report on Thursday, March 14th. Truist Financial raised their target price on Shake Shack from $112.00 to $115.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Oppenheimer upped their price target on Shake Shack from $108.00 to $120.00 and gave the stock an outperform rating in a report on Friday, March 22nd. Finally, TD Cowen reiterated a buy rating and issued a $125.00 target price on shares of Shake Shack in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $98.24.

Shake Shack Stock Performance

SHAK stock traded down $1.85 during trading hours on Friday, hitting $105.62. 1,152,480 shares of the stock were exchanged, compared to its average volume of 954,618. The company has a 50-day simple moving average of $102.37 and a two-hundred day simple moving average of $80.77. The firm has a market capitalization of $4.47 billion, a P/E ratio of 197.80, a P/E/G ratio of 3.79 and a beta of 1.78. Shake Shack has a 12 month low of $52.79 and a 12 month high of $111.29. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 0.52.

Shake Shack (NYSE:SHAK) last released its 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 firm had revenue of $290.50 million during the quarter, compared to the consensus estimate of $291.00 million. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) EPS. On average, analysts forecast that Shake Shack will post 0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $103.01, for a total value of $31,315.04. Following 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 can be accessed through this link. In related news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the sale, 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. Over the last ninety days, insiders have sold 100,608 shares of company stock valued at $10,178,861. 10.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Shake Shack

Several large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Shake Shack in the 1st quarter worth approximately $25,000. GAMMA Investing LLC bought a new position in shares of Shake Shack during the fourth quarter valued at $32,000. Ramirez Asset Management Inc. bought a new position in shares of Shake Shack during the third quarter valued at $35,000. C M Bidwell & Associates Ltd. raised its stake in shares of Shake Shack by 122.6% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock worth $65,000 after purchasing an additional 612 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Shake Shack during the first quarter valued at $97,000. 86.07% of the stock is owned by institutional investors.

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.