Shake Shack (NYSE:SHAK) Upgraded by Gordon Haskett to “Buy” Rating

Gordon Haskett upgraded shares of Shake Shack (NYSE:SHAK) from a hold rating to a buy rating in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has $154.00 price target on the stock.

Other analysts have also issued research reports about the stock. 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. Oppenheimer raised their target price on shares of Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday. UBS Group lifted their price target on shares of Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $125.00 to $159.00 in a research note on Tuesday. Finally, Truist Financial boosted their target price on shares of Shake Shack from $144.00 to $147.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $122.59.

Shake Shack Price Performance

Shares of SHAK opened at $132.62 on Wednesday. Shake Shack has a fifty-two week low of $64.16 and a fifty-two week high of $139.89. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 780.12, a price-to-earnings-growth ratio of 2.83 and a beta of 1.86. The firm has a 50-day simple moving average of $129.82 and a 200-day simple moving average of $109.73. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01.

Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (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 company had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. During the same period last year, the company posted $0.17 earnings per share. The firm’s quarterly revenue 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 Buying and Selling

In other news, 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 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 trade represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack 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 sale, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders sold 53,333 shares of company stock worth $6,566,330. 9.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

A number of hedge funds and other institutional investors have recently bought and sold shares of SHAK. Point72 Asset Management L.P. raised its stake 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 worth $67,157,000 after buying an additional 395,311 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Shake Shack in the third quarter valued at approximately $39,677,000. Holocene Advisors LP grew its holdings 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 valued at $97,673,000 after acquiring an additional 384,131 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock valued at $48,990,000 after acquiring an additional 273,822 shares in the last quarter. Finally, Armistice Capital LLC grew its holdings in Shake Shack by 69.1% during the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after purchasing an additional 236,950 shares during the period. Institutional investors 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.