Shake Shack (NYSE:SHAK) Earns Buy Rating from TD Cowen

TD Cowen restated their buy rating on shares of Shake Shack (NYSE:SHAK) in a report published on Wednesday, Benzinga reports. The brokerage currently has a $125.00 price target on the stock.

A number of other equities analysts have also weighed in on SHAK. Deutsche Bank Aktiengesellschaft reissued a hold rating and set a $115.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. JPMorgan Chase & Co. upped their price objective on shares of Shake Shack from $102.00 to $105.00 and gave the company an underweight rating in a report on Monday, June 3rd. Robert W. Baird boosted their target price on shares of Shake Shack from $93.00 to $105.00 and gave the company a neutral rating in a report on Friday, August 2nd. Truist Financial restated a buy rating and set a $127.00 price target on shares of Shake Shack in a report on Wednesday, August 28th. Finally, Bank of America upped their price objective on Shake Shack from $104.00 to $116.00 and gave the company a neutral rating in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $107.56.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $106.94 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06. The firm has a fifty day moving average of $97.29 and a 200 day moving average of $97.45. The firm has a market cap of $4.54 billion, a PE ratio of 194.44, a PEG ratio of 3.02 and a beta of 1.83. Shake Shack has a one year low of $52.79 and a one year high of $111.29.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The business had revenue of $316.50 million for the quarter, compared to the consensus estimate of $314.37 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. As a group, research analysts predict that Shake Shack will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Katherine Irene Fogertey sold 963 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total transaction of $92,476.89. Following the completion of the transaction, the chief financial officer now directly owns 37,464 shares in the company, valued at $3,597,667.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Katherine Irene Fogertey sold 963 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total value of $92,476.89. Following the completion of the transaction, the chief financial officer now directly owns 37,464 shares of the company’s stock, valued at approximately $3,597,667.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the sale, the director now owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. The disclosure for this sale can be found here. Insiders sold 12,213 shares of company stock valued at $1,311,175 over the last 90 days. 9.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shake Shack

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Shake Shack in the 1st quarter valued at about $25,000. Quest Partners LLC bought a new position in shares of Shake Shack during the second quarter worth about $38,000. Kimelman & Baird LLC bought a new stake in Shake Shack in the 2nd quarter valued at approximately $45,000. Covestor Ltd lifted its stake in Shake Shack by 32,150.0% in the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after acquiring an additional 643 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Shake Shack during the 1st quarter worth approximately $97,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

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.