Shake Shack (NYSE:SHAK) Trading 5.1% Higher Following Analyst Upgrade

Shake Shack Inc. (NYSE:SHAK)’s share price was up 5.1% on Monday after Truist Financial raised their price target on the stock from $143.00 to $154.00. Truist Financial currently has a buy rating on the stock. Shake Shack traded as high as $114.58 and last traded at $114.30. Approximately 1,398,272 shares were traded during trading, a decline of 4% from the average daily volume of 1,458,953 shares. The stock had previously closed at $108.72.

A number of other equities analysts also recently commented on SHAK. TD Securities reaffirmed a “buy” rating and set a $140.00 target price on shares of Shake Shack in a research note on Friday, February 21st. Oppenheimer upped their price objective on Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a research note on Wednesday, January 8th. Stifel Nicolaus decreased their price target on Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a research note on Friday, January 17th. Finally, Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $125.00 to $159.00 in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $125.50.

Insiders Place Their Bets

In other news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the sale, the chief financial officer now owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.73% of the stock is currently owned by company insiders.

Institutional Trading of Shake Shack

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GDS Wealth Management raised its stake in Shake Shack by 253.6% during the 4th quarter. GDS Wealth Management now owns 14,277 shares of the company’s stock worth $1,853,000 after acquiring an additional 10,239 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Shake Shack by 4.8% during the third quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock worth $36,548,000 after purchasing an additional 16,097 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Shake Shack by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 353,501 shares of the company’s stock valued at $36,485,000 after purchasing an additional 24,813 shares during the last quarter. FMR LLC grew its stake in Shake Shack by 3.6% during the 3rd quarter. FMR LLC now owns 243,549 shares of the company’s stock worth $25,137,000 after buying an additional 8,512 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Shake Shack by 10.8% during the third quarter. Jennison Associates LLC now owns 294,111 shares of the company’s stock worth $30,355,000 after buying an additional 28,661 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Stock Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. The company has a market cap of $4.71 billion, a PE ratio of 482.03 and a beta of 1.86. The stock has a 50 day simple moving average of $121.10 and a two-hundred day simple moving average of $116.68.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01. Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The company had revenue of $328.68 million for the quarter, compared to the consensus estimate of $329.02 million. Equities analysts predict that Shake Shack Inc. will post 1.26 EPS for the current year.

About Shake Shack

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.