Shake Shack (NYSE:SHAK) Sets New 1-Year High at $99.00

Shares of Shake Shack Inc (NYSE:SHAK) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $99.00 and last traded at $98.20, with a volume of 30958 shares. The stock had previously closed at $96.37.

SHAK has been the topic of several analyst reports. SunTrust Banks lifted their price objective on Shake Shack to $102.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. TheStreet upgraded Shake Shack from a “c” rating to a “b” rating in a report on Friday, May 3rd. Credit Suisse Group lifted their price objective on Shake Shack from $77.00 to $83.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Morgan Stanley lifted their price objective on Shake Shack from $61.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 6th. Finally, Barclays lifted their price objective on Shake Shack from $58.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $74.99.

The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.08 and a current ratio of 1.10. The firm has a market capitalization of $3.58 billion, a P/E ratio of 139.42, a P/E/G ratio of 6.65 and a beta of 1.41. The stock has a fifty day moving average price of $79.91 and a two-hundred day moving average price of $63.90.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.05. Shake Shack had a return on equity of 9.01% and a net margin of 2.96%. The business had revenue of $152.71 million during the quarter, compared to the consensus estimate of $149.77 million. During the same period in the previous year, the business earned $0.29 EPS. The business’s quarterly revenue was up 31.3% on a year-over-year basis. As a group, research analysts anticipate that Shake Shack Inc will post 0.64 earnings per share for the current fiscal year.

In related news, insider Tara Comonte sold 9,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $84.64, for a total transaction of $804,080.00. Following the completion of the transaction, the insider now owns 59,340 shares in the company, valued at approximately $5,022,537.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey Flug sold 8,794 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $90.31, for a total value of $794,186.14. The disclosure for this sale can be found here. Insiders have sold a total of 769,761 shares of company stock valued at $56,217,732 in the last 90 days. Insiders own 21.85% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Shake Shack by 6.1% during the 2nd quarter. BlackRock Inc. now owns 3,899,216 shares of the company’s stock valued at $281,523,000 after purchasing an additional 224,817 shares during the period. FMR LLC boosted its position in Shake Shack by 13.0% during the 1st quarter. FMR LLC now owns 1,203,667 shares of the company’s stock worth $71,197,000 after acquiring an additional 138,218 shares during the period. Invesco Ltd. boosted its position in Shake Shack by 1,069.6% during the 2nd quarter. Invesco Ltd. now owns 1,099,642 shares of the company’s stock worth $79,394,000 after acquiring an additional 1,005,627 shares during the period. Zevenbergen Capital Investments LLC boosted its position in Shake Shack by 8.5% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 823,505 shares of the company’s stock worth $48,711,000 after acquiring an additional 64,385 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Shake Shack during the 2nd quarter worth $58,021,000. Institutional investors and hedge funds own 85.41% of the company’s stock.

Shake Shack Company Profile (NYSE:SHAK)

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.

Read More: Green Investing

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.