JPMorgan Chase & Co. Increases Shake Shack (NYSE:SHAK) Price Target to $110.00

Shake Shack (NYSE:SHAK) had its price target raised by investment analysts at JPMorgan Chase & Co. from $100.00 to $110.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 20.55% from the stock’s previous close.

Several other research analysts also recently commented on SHAK. UBS Group reduced their price target on shares of Shake Shack from $140.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Stifel Nicolaus reduced their price objective on Shake Shack from $120.00 to $97.00 and set a “hold” rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company lifted their target price on Shake Shack from $95.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, May 30th. Loop Capital upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a report on Tuesday, April 1st. Finally, BTIG Research lowered Shake Shack from a “buy” rating to a “neutral” rating in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $123.95.

Shake Shack Stock Performance

Shake Shack stock opened at $138.46 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.91 and a quick ratio of 1.88. The firm has a market capitalization of $5.91 billion, a P/E ratio of 494.50, a price-to-earnings-growth ratio of 3.17 and a beta of 1.77. Shake Shack has a 1-year low of $72.93 and a 1-year high of $140.97. The company’s 50-day moving average is $114.37 and its 200 day moving average is $110.80.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. The business had revenue of $320.90 million for the quarter, compared to the consensus estimate of $330.24 million. During the same period in the prior year, the company posted $0.13 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts forecast that Shake Shack will post 1.26 EPS for the current year.

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 562 shares of the firm’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $124.84, for a total value of $70,160.08. Following the completion of the transaction, the chief financial officer now owns 35,188 shares of the company’s stock, valued at approximately $4,392,869.92. This trade represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction on Friday, May 30th. The stock was sold at an average price of $130.10, for a total transaction of $1,301,000.00. Following the sale, the director now owns 396,636 shares of the company’s stock, valued at $51,602,343.60. The trade was a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,698 shares of company stock valued at $4,499,820 in the last ninety days. Corporate insiders own 9.73% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Shake Shack by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock worth $574,497,000 after acquiring an additional 49,883 shares during the period. Invesco Ltd. boosted its holdings in Shake Shack by 2.0% in the first quarter. Invesco Ltd. now owns 1,269,876 shares of the company’s stock valued at $111,965,000 after purchasing an additional 24,783 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Shake Shack by 17.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company’s stock worth $116,078,000 after purchasing an additional 134,475 shares during the period. Ameriprise Financial Inc. grew its holdings in Shake Shack by 144.3% during the first quarter. Ameriprise Financial Inc. now owns 791,857 shares of the company’s stock worth $69,805,000 after acquiring an additional 467,748 shares during the period. Finally, Van Berkom & Associates Inc. raised its position in Shake Shack by 19.0% during the first quarter. Van Berkom & Associates Inc. now owns 785,594 shares of the company’s stock valued at $69,266,000 after acquiring an additional 125,357 shares in the last quarter. Hedge funds and other 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.