Shake Shack (NYSE:SHAK) PT Raised to $70.00 at Wedbush

Shake Shack (NYSE:SHAK) had its target price boosted by research analysts at Wedbush from $65.00 to $70.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price objective indicates a potential downside of 4.55% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other analysts have also recently commented on SHAK. Goldman Sachs Group initiated coverage on shares of Shake Shack in a research note on Monday, July 29th. They issued a “buy” rating and a $95.00 price target on the stock. Stifel Nicolaus boosted their price target on shares of Shake Shack from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. SunTrust Banks boosted their price target on shares of Shake Shack to $70.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Credit Suisse Group initiated coverage on shares of Shake Shack in a research note on Tuesday, June 25th. They issued an “outperform” rating and a $77.00 price target on the stock. Finally, Longbow Research cut shares of Shake Shack from a “buy” rating to a “neutral” rating and set a $58.80 price target on the stock. in a research note on Wednesday, April 17th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $71.63.

Shares of SHAK stock opened at $73.34 on Friday. The stock has a market cap of $2.80 billion, a PE ratio of 103.30, a P/E/G ratio of 5.67 and a beta of 1.41. Shake Shack has a 52 week low of $40.67 and a 52 week high of $76.81. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.15 and a current ratio of 1.17. The business has a fifty day moving average of $72.30.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. The business had revenue of $152.71 million for the quarter, compared to analysts’ expectations of $149.77 million. Shake Shack had a net margin of 2.88% and a return on equity of 9.64%. The business’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.29 EPS. On average, research analysts forecast that Shake Shack will post 0.59 EPS for the current fiscal year.

In other news, Director Daniel Harris Meyer sold 75,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $59.61, for a total transaction of $4,470,750.00. Following the sale, the director now directly owns 1,032 shares in the company, valued at approximately $61,517.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan D. Sokoloff sold 229,962 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $60.20, for a total transaction of $13,843,712.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,151,901 shares of company stock worth $77,100,264 over the last 90 days. Corporate insiders own 21.85% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its holdings in Shake Shack by 13.0% during the 1st quarter. FMR LLC now owns 1,203,667 shares of the company’s stock valued at $71,197,000 after purchasing an additional 138,218 shares during the last quarter. Zevenbergen Capital Investments LLC grew its holdings in Shake Shack by 8.5% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 823,505 shares of the company’s stock valued at $48,711,000 after purchasing an additional 64,385 shares during the last quarter. Wasatch Advisors Inc. grew its holdings in Shake Shack by 1.8% during the 1st quarter. Wasatch Advisors Inc. now owns 763,267 shares of the company’s stock valued at $45,147,000 after purchasing an additional 13,797 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Shake Shack by 51.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 417,461 shares of the company’s stock valued at $18,960,000 after purchasing an additional 141,498 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Shake Shack by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 262,094 shares of the company’s stock valued at $11,904,000 after purchasing an additional 21,649 shares during the last quarter. Hedge funds and other institutional investors own 84.64% 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 December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

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Analyst Recommendations for Shake Shack (NYSE:SHAK)

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