Shake Shack (NYSE:SHAK) Raised to “Buy” at Gordon Haskett

Shake Shack (NYSE:SHAK) was upgraded by investment analysts at Gordon Haskett from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm currently has a $154.00 price objective on the stock. Gordon Haskett’s price objective suggests a potential upside of 16.24% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $125.00 to $159.00 in a research report on Tuesday. UBS Group increased their target price on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday. Oppenheimer boosted their price target on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Finally, Truist Financial lifted 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Shake Shack presently has an average rating of “Hold” and an average price target of $122.47.

Shake Shack Stock Up 0.3 %

Shares of NYSE SHAK opened at $132.49 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. Shake Shack has a 1 year low of $64.16 and a 1 year high of $139.89. The stock has a market capitalization of $5.63 billion, a P/E ratio of 779.35, a P/E/G ratio of 2.83 and a beta of 1.86. The company has a 50-day moving average price of $129.61 and a 200-day moving average price of $109.57.

Shake Shack (NYSE:SHAK) last released its quarterly 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. The business had revenue of $316.92 million during the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. On average, equities research analysts forecast that Shake Shack will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the transaction, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the sale, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. The trade was a 6.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,333 shares of company stock valued at $6,566,330. 9.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its holdings in shares of Shake Shack by 154.8% in the third 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Shake Shack in the 3rd quarter valued at $39,677,000. Holocene Advisors LP grew its position in shares of Shake Shack by 68.3% during the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after purchasing an additional 384,131 shares in the last quarter. Marshall Wace LLP increased 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 worth $48,990,000 after purchasing an additional 273,822 shares during the period. Finally, Armistice Capital LLC raised its position in shares of Shake Shack by 69.1% in the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after buying an additional 236,950 shares in the last quarter. 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.