Shake Shack (NYSE:SHAK) Earns “Buy” Rating from TD Cowen

TD Cowen reaffirmed their buy rating on shares of Shake Shack (NYSE:SHAK) in a report published on Thursday, Benzinga reports. They currently have a $125.00 price target on the stock.

A number of other research firms have also issued reports on SHAK. Wedbush reissued a neutral rating and issued a $80.00 target price on shares of Shake Shack in a report on Wednesday, February 14th. JPMorgan Chase & Co. boosted their price objective on shares of Shake Shack from $65.00 to $100.00 and gave the company an underweight rating in a research note on Monday, March 4th. StockNews.com cut shares of Shake Shack from a hold rating to a sell rating in a research note on Monday, March 4th. Truist Financial increased their price target on shares of Shake Shack from $112.00 to $115.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. Finally, BTIG Research lifted their price objective on Shake Shack from $110.00 to $120.00 and gave the company a buy rating in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average price target of $96.33.

Shake Shack Price Performance

SHAK stock opened at $107.47 on Thursday. The business has a 50 day simple moving average of $102.37 and a 200-day simple moving average of $80.59. The company has a market capitalization of $4.55 billion, a P/E ratio of 195.40, a PEG ratio of 3.80 and a beta of 1.78. Shake Shack has a twelve month low of $52.79 and a twelve month high of $110.90. The company has a current ratio of 2.03, a quick ratio of 2.01 and a debt-to-equity ratio of 0.52.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The business had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $291.00 million. During the same period in the prior year, the company earned ($0.01) earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. As a group, equities analysts anticipate that Shake Shack will post 0.72 EPS for the current year.

Insider Activity

In related news, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $108.05, for a total value of $32,847.20. Following the completion of the transaction, the director now owns 4,058 shares of the company’s stock, valued at approximately $438,466.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $108.05, for a total transaction of $32,847.20. Following the transaction, the director now owns 4,058 shares of the company’s stock, valued at approximately $438,466.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 23,966 shares of Shake Shack stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $100.13, for a total value of $2,399,715.58. Following the completion of the sale, the director now directly owns 526,471 shares of the company’s stock, valued at approximately $52,715,541.23. The disclosure for this sale can be found here. Insiders have sold 100,760 shares of company stock worth $10,190,420 over the last three months. 10.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Shake Shack

Several institutional investors and hedge funds have recently bought and sold shares of the stock. 12 West Capital Management LP increased its holdings in shares of Shake Shack by 82.2% during the 3rd quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock worth $96,373,000 after buying an additional 748,789 shares during the last quarter. Linonia Partnership LP acquired a new position in shares of Shake Shack in the 4th quarter valued at about $41,046,000. Qube Research & Technologies Ltd grew its holdings in shares of Shake Shack by 130.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock worth $25,370,000 after purchasing an additional 246,952 shares during the period. Van Berkom & Associates Inc. increased its position in Shake Shack by 19.3% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company’s stock worth $60,761,000 after purchasing an additional 168,947 shares in the last quarter. Finally, Norges Bank acquired a new position in Shake Shack during the fourth quarter valued at approximately $12,238,000. Institutional investors and hedge funds 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.