Shake Shack (NYSE:SHAK) Given New $143.00 Price Target at Truist Financial

Shake Shack (NYSE:SHAK) had its price target reduced by Truist Financial from $149.00 to $143.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on the stock. Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research report on Wednesday, January 8th. Stifel Nicolaus lifted their price objective on Shake Shack from $115.00 to $128.00 and gave the company a “hold” rating in a research note on Friday, January 10th. TD Cowen restated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. UBS Group lifted their price target on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $125.00 to $159.00 in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $122.56.

Shake Shack Stock Performance

Shares of SHAK opened at $118.56 on Tuesday. Shake Shack has a 52-week low of $64.16 and a 52-week high of $139.89. The stock’s 50-day simple moving average is $130.09 and its 200 day simple moving average is $110.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 697.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.86.

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 firm had revenue of $316.92 million for the quarter, compared to the consensus estimate 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 for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. Research analysts forecast that Shake Shack will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the sale, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the completion of the transaction, the director now owns 407,646 shares in the company, valued at $49,647,206.34. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,333 shares of company stock worth $6,566,330 in the last 90 days. 9.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Shake Shack

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHAK. State Street Corp grew its holdings in Shake Shack by 3.5% in the 3rd quarter. State Street Corp now owns 1,452,736 shares of the company’s stock worth $149,937,000 after acquiring an additional 49,324 shares during the last quarter. Holocene Advisors LP grew its stake in shares of Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after purchasing an additional 384,131 shares during the last quarter. Geode Capital Management LLC increased its holdings in Shake Shack by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock valued at $90,470,000 after purchasing an additional 26,620 shares during the period. Dimensional Fund Advisors LP raised its position in Shake Shack by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock valued at $72,088,000 after purchasing an additional 66,090 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Shake Shack by 154.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after purchasing an additional 395,311 shares during the last quarter. 86.07% of the stock is currently 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.