Truist Financial Raises Shake Shack (NYSE:SHAK) Price Target to $124.00

Shake Shack (NYSE:SHAK) had its price target boosted by Truist Financial from $115.00 to $124.00 in a research note published on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on SHAK. JPMorgan Chase & Co. upped their price target on Shake Shack from $65.00 to $100.00 and gave the stock an underweight rating in a research report on Monday, March 4th. Robert W. Baird raised their target price on shares of Shake Shack from $102.00 to $105.00 and gave the stock a neutral rating in a research note on Friday. Raymond James upped their price target on shares of Shake Shack from $90.00 to $115.00 and gave the stock a strong-buy rating in a research report on Friday, February 16th. Barclays raised their price objective on shares of Shake Shack from $92.00 to $108.00 and gave the company an equal weight rating in a research report on Friday. Finally, UBS Group increased their price target on Shake Shack from $80.00 to $88.00 and gave the stock a neutral rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $98.24.

Shake Shack Price Performance

NYSE SHAK opened at $105.59 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $4.47 billion, a P/E ratio of 191.99, a PEG ratio of 3.79 and a beta of 1.78. The company has a 50-day moving average price of $102.46 and a 200-day moving average price of $81.12. Shake Shack has a 52 week low of $52.79 and a 52 week high of $111.29.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $291.00 million. During the same period last year, the firm earned ($0.01) earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Equities research analysts anticipate that Shake Shack will post 0.72 earnings per share for the current year.

Insider Activity

In related news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $108.05, for a total transaction of $32,847.20. Following the sale, the director now owns 4,058 shares of the company’s stock, valued at $438,466.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Daniel Harris Meyer sold 40,000 shares of Shake Shack stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $106.34, for a total value of $4,253,600.00. Following the completion of the transaction, the director now owns 480,437 shares in the company, valued at approximately $51,089,670.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $108.05, for a total value of $32,847.20. Following the sale, the director now owns 4,058 shares in the company, valued at approximately $438,466.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,608 shares of company stock worth $10,178,861. 10.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in shares of Shake Shack by 43.6% during the 1st quarter. SG Americas Securities LLC now owns 3,389 shares of the company’s stock worth $353,000 after purchasing an additional 1,029 shares during the period. Quantbot Technologies LP purchased a new position in shares of Shake Shack during the first quarter valued at approximately $344,000. Texas Permanent School Fund Corp grew its stake in shares of Shake Shack by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 32,815 shares of the company’s stock valued at $3,414,000 after buying an additional 439 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Shake Shack during the 1st quarter worth approximately $675,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Shake Shack during the 1st quarter valued at $97,000. Institutional investors 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.