SunTrust Banks Lowers Shake Shack (SHAK) Price Target to $60.00

Shake Shack (NYSE:SHAK) had its price target decreased by investment analysts at SunTrust Banks to $60.00 in a report released on Friday, November 2nd, The Fly reports. The brokerage currently has a “buy” rating on the stock. SunTrust Banks’ target price points to a potential upside of 17.79% from the company’s previous close. SunTrust Banks also issued estimates for Shake Shack’s Q4 2018 earnings at ($0.01) EPS, FY2019 earnings at $0.64 EPS and FY2020 earnings at $0.84 EPS.

A number of other analysts also recently commented on SHAK. Wedbush dropped their target price on shares of Shake Shack from $62.00 to $56.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. Zacks Investment Research downgraded shares of Shake Shack from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Morgan Stanley boosted their target price on shares of Shake Shack from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Cowen reiterated a “hold” rating and issued a $59.00 target price on shares of Shake Shack in a report on Wednesday, July 25th. Finally, Barclays boosted their target price on shares of Shake Shack from $52.00 to $59.00 and gave the stock an “equal weight” rating in a report on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.50.

Shake Shack stock traded up $0.09 during midday trading on Friday, reaching $50.94. 507,965 shares of the stock traded hands, compared to its average volume of 919,303. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 89.37, a PEG ratio of 3.35 and a beta of 1.36. Shake Shack has a fifty-two week low of $36.58 and a fifty-two week high of $70.12.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, November 1st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Shake Shack had a net margin of 0.40% and a return on equity of 10.64%. The firm had revenue of $119.65 million during the quarter, compared to analyst estimates of $116.81 million. During the same period in the previous year, the business posted $0.17 EPS. Shake Shack’s revenue was up 26.5% on a year-over-year basis. Research analysts anticipate that Shake Shack will post 0.69 earnings per share for the current year.

In related news, Director Jonathan D. Sokoloff sold 200,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $59.60, for a total transaction of $11,920,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Flug sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.46, for a total transaction of $1,461,500.00. Following the transaction, the director now owns 4,415 shares of the company’s stock, valued at $258,100.90. The disclosure for this sale can be found here. Insiders have sold 1,284,560 shares of company stock worth $74,700,300 in the last 90 days. 30.18% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in SHAK. Commonwealth Equity Services LLC increased its position in shares of Shake Shack by 15.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 7,283 shares of the company’s stock worth $482,000 after purchasing an additional 981 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Shake Shack by 50.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 3,202 shares of the company’s stock worth $212,000 after purchasing an additional 1,077 shares in the last quarter. American International Group Inc. increased its position in shares of Shake Shack by 6.1% during the 3rd quarter. American International Group Inc. now owns 19,493 shares of the company’s stock worth $1,228,000 after purchasing an additional 1,123 shares in the last quarter. Piedmont Investment Advisors Inc. increased its position in shares of Shake Shack by 28.1% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 5,897 shares of the company’s stock worth $372,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Shake Shack by 4.6% during the 1st quarter. Legal & General Group Plc now owns 35,930 shares of the company’s stock worth $1,485,000 after purchasing an additional 1,589 shares in the last quarter. Hedge funds and other institutional investors own 87.50% 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, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of October 9, 2018, it operated 180 locations in 26 U.S.

See Also: Google Finance Portfolio Workaround

The Fly

Analyst Recommendations for Shake Shack (NYSE:SHAK)

Receive News & Ratings for Shake Shack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shake Shack and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply