Truist Financial Increases Shake Shack (NYSE:SHAK) Price Target to $147.00

Shake Shack (NYSE:SHAK) had its price objective raised by Truist Financial from $144.00 to $147.00 in a report published on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on the company. TD Cowen reissued a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research report on Wednesday, September 18th. Barclays raised their price objective on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $115.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. Oppenheimer raised their price target on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $102.00 price objective (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $113.12.

Shake Shack Stock Performance

SHAK opened at $129.63 on Thursday. The company has a market cap of $5.51 billion, a P/E ratio of 762.53, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85. 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 firm’s 50-day moving average price is $123.64 and its 200-day moving average price is $105.59. Shake Shack has a 52-week low of $64.16 and a 52-week high of $139.89.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The company 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%. Shake Shack’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. As a group, equities analysts anticipate that Shake Shack will post 0.82 EPS for the current fiscal year.

Insider Activity at Shake Shack

In other news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction that occurred on 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 sale, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the sale, the chief financial officer now owns 36,180 shares of the company’s stock, valued at $3,760,187.40. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,754 shares of company stock valued at $7,711,497. 9.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Shake Shack

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its position in shares of Shake Shack by 303.3% in the second quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock valued at $1,460,000 after purchasing an additional 12,487 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Shake Shack by 4.8% during the third quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock worth $36,548,000 after buying an additional 16,097 shares during the last quarter. GDS Wealth Management purchased a new stake in Shake Shack in the 3rd quarter valued at $417,000. Jennison Associates LLC increased its stake in shares of Shake Shack by 10.8% in the 3rd quarter. Jennison Associates LLC now owns 294,111 shares of the company’s stock worth $30,355,000 after acquiring an additional 28,661 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Shake Shack by 3.6% in the 3rd quarter. FMR LLC now owns 243,549 shares of the company’s stock worth $25,137,000 after acquiring an additional 8,512 shares during 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.