Shake Shack (NYSE:SHAK) Price Target Raised to $144.00

Shake Shack (NYSE:SHAK) had its price target lifted by equities researchers at Truist Financial from $127.00 to $144.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 18.35% from the company’s current price.

A number of other research analysts have also commented on the company. Morgan Stanley lowered their price target on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Piper Sandler downgraded Shake Shack from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $121.00 to $114.00 in a report on Monday, August 19th. The Goldman Sachs Group lifted their price target on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $115.00 price objective on shares of Shake Shack in a report on Wednesday, August 28th. Finally, TD Cowen reaffirmed a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.00.

Shake Shack Stock Down 0.7 %

Shares of Shake Shack stock opened at $121.67 on Friday. The company’s 50 day moving average price is $105.57 and its 200-day moving average price is $98.49. Shake Shack has a 52-week low of $54.06 and a 52-week high of $130.20. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.01. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 715.71, a P/E/G ratio of 3.58 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. Equities research analysts forecast that Shake Shack will post 0.74 EPS for the current year.

Insider Transactions at Shake Shack

In related news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the sale, the director now directly owns 460,337 shares of the company’s stock, valued at approximately $50,673,896.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00. Following the transaction, the director now directly owns 460,337 shares of the company’s stock, valued at approximately $50,673,896.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $90.39, for a total value of $27,478.56. Following the sale, the director now owns 3,347 shares in the company, valued at approximately $302,535.33. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,367 shares of company stock valued at $2,337,213 in the last quarter. 9.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Shake Shack

Large investors have recently bought and sold shares of the business. Marshall Wace LLP grew its stake in shares of Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after acquiring an additional 273,822 shares during the period. Armistice Capital LLC grew its position in Shake Shack by 69.1% in the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after purchasing an additional 236,950 shares during the period. Point72 Asset Management L.P. raised its stake in Shake Shack by 471.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 255,374 shares of the company’s stock valued at $22,984,000 after buying an additional 210,717 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Shake Shack during the 1st quarter valued at $16,365,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Shake Shack by 41.9% in the 2nd quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after buying an additional 129,200 shares during the last quarter. 86.07% of the stock is currently owned by 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.