Shake Shack (NYSE:SHAK) Given New $110.00 Price Target at Stifel Nicolaus

Shake Shack (NYSE:SHAK) had its target price dropped by research analysts at Stifel Nicolaus from $128.00 to $110.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential downside of 4.52% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Wedbush reaffirmed a “neutral” rating and issued a $130.00 price target on shares of Shake Shack in a report on Wednesday. Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a research report on Wednesday, January 8th. Oppenheimer increased their price target on shares of Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Finally, Truist Financial reduced their price objective on Shake Shack from $149.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Shake Shack currently has an average rating of “Hold” and an average price target of $123.78.

Shake Shack Stock Performance

Shares of Shake Shack stock traded down $1.68 during midday trading on Friday, hitting $115.21. The company had a trading volume of 581,581 shares, compared to its average volume of 1,351,185. The stock has a market cap of $4.89 billion, a PE ratio of 677.58, a P/E/G ratio of 1.91 and a beta of 1.86. Shake Shack has a 1-year low of $66.06 and a 1-year high of $139.89. The business’s 50 day simple moving average is $129.29 and its two-hundred day simple moving average is $111.00. 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 (NYSE:SHAK) last announced its quarterly earnings data 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. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. During the same quarter last year, the firm earned $0.17 EPS. Shake Shack’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts predict that Shake Shack will post 0.82 EPS for the current fiscal year.

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 30,717 shares in the company, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 407,646 shares in the company, valued at $49,647,206.34. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,333 shares of company stock worth $6,566,330 over the last three months. Company insiders own 9.73% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shake Shack during the 3rd quarter valued at $41,000. Quest Partners LLC acquired a new position in Shake Shack during the 2nd quarter valued at about $38,000. Kimelman & Baird LLC bought a new stake in Shake Shack during the 2nd quarter worth approximately $45,000. Covestor Ltd lifted its holdings in shares of Shake Shack by 41.6% in the third quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after purchasing an additional 205 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Shake Shack by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $96,000 after buying an additional 265 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

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.