Shake Shack (NYSE:SHAK) Reaches New 52-Week High – Here’s What Happened

Shake Shack Inc. (NYSE:SHAK)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $132.17 and last traded at $132.12, with a volume of 13217 shares. The stock had previously closed at $126.80.

Analyst Ratings Changes

A number of research analysts have commented on SHAK shares. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Piper Sandler cut shares of Shake Shack from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. Robert W. Baird lifted 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $115.00 price target on shares of Shake Shack in a research note on Wednesday, August 28th. Finally, Barclays lifted their price objective on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $110.00.

Shake Shack Price Performance

The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $106.88 and a 200-day moving average of $99.31. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 746.41, a P/E/G ratio of 2.84 and a beta of 1.81.

Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. During the same period last year, the firm posted $0.17 EPS. The company’s revenue was up 14.7% on a year-over-year basis. On average, equities research analysts predict that Shake Shack Inc. will post 0.81 EPS for the current fiscal year.

Insider Transactions at Shake Shack

In related news, Director Daniel Harris Meyer sold 30,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the sale, the director now directly owns 407,646 shares of the company’s stock, valued at $49,647,206.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Daniel Harris Meyer sold 30,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the sale, the director now owns 407,646 shares in the company, valued at $49,647,206.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the transaction, the chief financial officer now directly owns 36,180 shares in the company, valued at $3,760,187.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,433 shares of company stock worth $8,757,256. Corporate insiders own 9.73% of the company’s stock.

Institutional Trading of Shake Shack

Several hedge funds have recently made changes to their positions in the company. Xponance Inc. lifted its position in Shake Shack by 4.5% in the second quarter. Xponance Inc. now owns 2,395 shares of the company’s stock valued at $216,000 after purchasing an additional 103 shares during the period. Brighton Jones LLC lifted its holdings in shares of Shake Shack by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock valued at $1,612,000 after buying an additional 187 shares during the period. Arizona State Retirement System boosted its stake in shares of Shake Shack by 1.9% in the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after buying an additional 196 shares in the last quarter. Covestor Ltd grew its holdings in Shake Shack by 41.6% during the third quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after acquiring an additional 205 shares during the period. Finally, CWM LLC raised its position in Shake Shack by 24.7% in the second quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after acquiring an additional 207 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

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.