Shake Shack (NYSE:SHAK) Rating Increased to Overweight at Barclays

Shake Shack (NYSE:SHAK) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a $159.00 price target on the stock, up from their previous price target of $125.00. Barclays‘s price objective would suggest a potential upside of 20.39% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. Truist Financial boosted their target price on shares of Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 target price (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. TD Cowen restated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research report on Wednesday, September 18th. Finally, Oppenheimer boosted their target price on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $118.94.

Shake Shack Trading Down 1.0 %

NYSE:SHAK opened at $132.07 on Tuesday. Shake Shack has a 12 month low of $64.16 and a 12 month high of $139.89. The firm has a fifty day simple moving average of $129.23 and a 200-day simple moving average of $109.27. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $5.61 billion, a P/E ratio of 776.88, a PEG ratio of 2.83 and a beta of 1.86.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business had revenue of $316.92 million during the quarter, compared to the consensus estimate of $316.03 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities research analysts anticipate that Shake Shack will post 0.82 earnings per share for the current year.

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the completion of the sale, the director now owns 407,646 shares of the company’s stock, valued at $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Katherine Irene Fogertey sold 642 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the transaction, the chief financial officer now owns 30,717 shares in the company, valued at $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,333 shares of company stock valued at $6,566,330 over the last 90 days. Corporate insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

A number of institutional investors and hedge funds have recently bought and sold shares of SHAK. Quest Partners LLC acquired a new position in Shake Shack during the second quarter worth about $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shake Shack during the third quarter worth about $41,000. Kimelman & Baird LLC acquired a new position in Shake Shack in the 2nd quarter valued at about $45,000. Covestor Ltd boosted its holdings in Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after purchasing an additional 205 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Shake Shack by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $96,000 after purchasing an additional 265 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.