Shake Shack (NYSE:SHAK) Sets New 52-Week High – What’s Next?

Shake Shack Inc. (NYSE:SHAK) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $135.24 and last traded at $134.12, with a volume of 166642 shares changing hands. The stock had previously closed at $133.73.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SHAK. TD Cowen reaffirmed a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Oppenheimer boosted their target price on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Barclays boosted their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Truist Financial raised their target price on shares of Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Shake Shack has a consensus rating of “Hold” and an average price target of $112.94.

Shake Shack Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The firm has a market cap of $5.72 billion, a PE ratio of 786.65, a price-to-earnings-growth ratio of 3.04 and a beta of 1.81. The stock has a 50 day simple moving average of $116.51 and a two-hundred day simple moving average of $102.36.

Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The firm had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. During the same period last year, the firm earned $0.17 EPS. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Sell-side analysts expect that Shake Shack Inc. will post 0.82 earnings per share for the current year.

Insider Activity

In other news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the sale, the director now owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. The trade was a 6.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total value of $31,640.97. Following the completion of the transaction, the chief financial officer now owns 36,822 shares of the company’s stock, valued at $3,629,544.54. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,433 shares of company stock worth $7,654,856 over the last three months. Insiders own 9.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in Shake Shack by 7.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,883 shares of the company’s stock valued at $2,173,000 after buying an additional 1,358 shares during the period. Quent Capital LLC grew its stake in Shake Shack by 2,469.1% during the 2nd quarter. Quent Capital LLC now owns 2,081 shares of the company’s stock worth $187,000 after purchasing an additional 2,000 shares in the last quarter. CWM LLC raised its position in Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after purchasing an additional 207 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Shake Shack by 130.2% in the 2nd quarter. SG Americas Securities LLC now owns 7,803 shares of the company’s stock valued at $702,000 after buying an additional 4,414 shares during the period. Finally, Sound Income Strategies LLC acquired a new position in shares of Shake Shack during the second quarter worth about $153,000. 86.07% of the stock is currently owned by hedge funds and other 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.