Barclays Increases Shake Shack (NYSE:SHAK) Price Target to $115.00

Shake Shack (NYSE:SHAK) had its price target lifted by Barclays from $110.00 to $115.00 in a report issued on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other brokerages have also recently commented on SHAK. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Morgan Stanley dropped their price objective on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Truist Financial reiterated a “buy” rating and set a $127.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. Wedbush restated a “neutral” rating and set a $90.00 price target on shares of Shake Shack in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Shake Shack in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Shake Shack has an average rating of “Hold” and a consensus target price of $107.67.

Shake Shack Stock Up 1.1 %

SHAK stock opened at $110.45 on Tuesday. Shake Shack has a 1-year low of $54.06 and a 1-year high of $113.50. The stock has a market cap of $4.67 billion, a P/E ratio of 200.82, a P/E/G ratio of 3.21 and a beta of 1.83. The stock’s fifty day simple moving average is $104.82 and its two-hundred day simple moving average is $98.10. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The business had revenue of $316.50 million for the quarter, compared to analyst estimates of $314.37 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. Analysts expect that Shake Shack will post 0.74 EPS for the current year.

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the completion of the sale, the director now owns 470,437 shares of the company’s stock, valued at $51,860,974.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the transaction, the chief financial officer now owns 36,180 shares of the company’s stock, valued at approximately $3,760,187.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the completion of the transaction, the director now owns 470,437 shares in the company, valued at approximately $51,860,974.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,330 shares of company stock valued at $2,429,690 over the last 90 days. 9.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC lifted its stake in shares of Shake Shack by 303.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock valued at $1,460,000 after acquiring an additional 12,487 shares during the last quarter. Virtu Financial LLC bought a new stake in Shake Shack in the first quarter valued at approximately $653,000. Janney Montgomery Scott LLC purchased a new stake in shares of Shake Shack during the first quarter valued at approximately $853,000. Jennison Associates LLC bought a new position in shares of Shake Shack in the first quarter worth approximately $16,365,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Shake Shack by 20.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 37,535 shares of the company’s stock worth $3,903,000 after purchasing an additional 6,411 shares during the last quarter. 86.07% of the stock is owned by institutional investors.

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.