Barclays Boosts Shake Shack (NYSE:SHAK) Price Target to $115.00

Shake Shack (NYSE:SHAK) had its price objective upped by Barclays from $110.00 to $115.00 in a report published on Tuesday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Truist Financial reiterated a “buy” rating and issued a $127.00 price target on shares of Shake Shack in a report on Wednesday, August 28th. Bank of America upped their price target on shares of Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Piper Sandler cut shares of Shake Shack from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $121.00 to $114.00 in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shake Shack has a consensus rating of “Hold” and an average target price of $107.67.

Shake Shack Stock Up 0.6 %

Shares of NYSE:SHAK opened at $109.24 on Tuesday. Shake Shack has a 52 week low of $54.06 and a 52 week high of $113.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06. The company has a market capitalization of $4.62 billion, a PE ratio of 198.62, a PEG ratio of 3.21 and a beta of 1.83. The company has a 50 day moving average price of $104.76 and a two-hundred day moving average price of $98.05.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The firm had revenue of $316.50 million during the quarter, compared to the consensus estimate of $314.37 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. Analysts forecast that Shake Shack will post 0.74 earnings per share for the current year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00. Following the completion of the sale, the director now owns 470,437 shares in the company, valued at $51,860,974.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00. Following the transaction, the director now directly owns 470,437 shares of the company’s stock, valued at $51,860,974.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the completion of 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. Insiders sold a total of 22,330 shares of company stock worth $2,429,690 over the last quarter. 9.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Shake Shack

Several large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in shares of Shake Shack by 35.8% in the third quarter. Nisa Investment Advisors LLC now owns 3,110 shares of the company’s stock valued at $321,000 after purchasing an additional 820 shares during the period. State of Alaska Department of Revenue increased its position in Shake Shack by 3.2% during the third quarter. State of Alaska Department of Revenue now owns 22,816 shares of the company’s stock worth $2,354,000 after acquiring an additional 708 shares during the period. Louisiana State Employees Retirement System increased its position in Shake Shack by 2.1% during the third quarter. Louisiana State Employees Retirement System now owns 19,300 shares of the company’s stock worth $1,992,000 after acquiring an additional 400 shares during the period. Assenagon Asset Management S.A. increased its position in Shake Shack by 268.0% during the third quarter. Assenagon Asset Management S.A. now owns 104,358 shares of the company’s stock worth $10,771,000 after acquiring an additional 75,997 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in Shake Shack during the third quarter worth about $41,000. 86.07% of the stock is 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.