Shake Shack (NYSE:SHAK) Earns “Buy” Rating from Truist Financial

Shake Shack (NYSE:SHAK)‘s stock had its “buy” rating reaffirmed by research analysts at Truist Financial in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $127.00 price objective on the stock. Truist Financial’s target price would indicate a potential upside of 20.80% from the company’s current price.

Other research analysts also recently issued reports about the company. Robert W. Baird boosted their target price on Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $115.00 price objective on shares of Shake Shack in a report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Shake Shack from $102.00 to $105.00 and gave the stock an “underweight” rating in a research note on Monday, June 3rd. Piper Sandler lowered shares of Shake Shack from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $121.00 to $114.00 in a research note on Monday, August 19th. Finally, Wedbush restated a “neutral” rating and set a $90.00 price objective on shares of Shake Shack in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Shake Shack presently has a consensus rating of “Hold” and an average price target of $106.37.

Shake Shack Trading Down 2.1 %

NYSE:SHAK traded down $2.29 during mid-day trading on Wednesday, hitting $105.13. The company had a trading volume of 215,876 shares, compared to its average volume of 941,962. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06. Shake Shack has a fifty-two week low of $52.79 and a fifty-two week high of $111.29. The firm has a market cap of $4.45 billion, a P/E ratio of 191.15, a P/E/G ratio of 3.28 and a beta of 1.75. The business’s fifty day moving average is $92.46 and its two-hundred day moving average is $96.95.

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

Insider Activity

In other news, CFO Katherine Irene Fogertey sold 963 shares of the stock in a transaction dated Friday, August 2nd. The shares were 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 owns 37,464 shares of the company’s stock, valued at $3,597,667.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Katherine Irene Fogertey sold 963 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $96.03, for a total value of $92,476.89. Following the sale, the chief financial officer now owns 37,464 shares of the company’s stock, valued at $3,597,667.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 470,437 shares in the company, valued at approximately $51,860,974.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,892 shares of company stock worth $1,279,534. Insiders own 9.73% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

A number of large investors have recently bought and sold shares of SHAK. Allspring Global Investments Holdings LLC bought a new position in shares of Shake Shack in the 1st quarter worth $25,000. GAMMA Investing LLC purchased a new stake in Shake Shack in the 4th quarter worth approximately $32,000. Quest Partners LLC purchased a new position in Shake Shack during the second quarter worth about $38,000. Kimelman & Baird LLC purchased a new position in shares of Shake Shack during the second quarter worth about $45,000. Finally, Covestor Ltd grew its position in Shake Shack by 32,150.0% in the first quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.