Shake Shack (NYSE:SHAK) Price Target Raised to $150.00 at Truist Financial

Shake Shack (NYSE:SHAK) had its price target lifted by Truist Financial from $140.00 to $150.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 6.29% from the stock’s previous close.

Several other equities analysts have also recently weighed in on SHAK. Stifel Nicolaus decreased their price objective on Shake Shack from $120.00 to $97.00 and set a “hold” rating for the company in a report on Tuesday, April 15th. UBS Group reduced their price target on Shake Shack from $140.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. boosted their price target on Shake Shack from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 25th. Robert W. Baird upped their price objective on Shake Shack from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Shake Shack from $95.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, May 30th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $124.43.

Shake Shack Price Performance

Shares of SHAK opened at $141.12 on Wednesday. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.50. Shake Shack has a twelve month low of $72.93 and a twelve month high of $142.51. The stock has a market capitalization of $6.02 billion, a P/E ratio of 504.00, a P/E/G ratio of 3.34 and a beta of 1.77. The company has a 50 day moving average of $119.79 and a 200-day moving average of $111.02.

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

Insider Buying and Selling

In other news, Director Daniel Harris Meyer sold 14,200 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $140.31, for a total value of $1,992,402.00. Following the transaction, the director owned 337,984 shares of the company’s stock, valued at approximately $47,422,535.04. This represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 562 shares of Shake Shack stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $124.84, for a total value of $70,160.08. Following the sale, the chief financial officer directly owned 35,188 shares of the company’s stock, valued at approximately $4,392,869.92. The trade was a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,698 shares of company stock valued at $11,490,296. Corporate insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

A number of hedge funds have recently bought and sold shares of SHAK. Summit Financial LLC grew its position in shares of Shake Shack by 0.7% during the 1st quarter. Summit Financial LLC now owns 13,180 shares of the company’s stock worth $1,162,000 after purchasing an additional 97 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Shake Shack by 5.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company’s stock valued at $243,000 after acquiring an additional 100 shares during the period. Redwood Investments LLC grew its holdings in shares of Shake Shack by 0.5% during the 1st quarter. Redwood Investments LLC now owns 23,231 shares of the company’s stock worth $2,048,000 after purchasing an additional 110 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Shake Shack by 1.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,367 shares of the company’s stock worth $914,000 after purchasing an additional 133 shares during the period. Finally, Xponance Inc. increased its position in shares of Shake Shack by 5.9% in the first quarter. Xponance Inc. now owns 2,868 shares of the company’s stock worth $253,000 after purchasing an additional 159 shares during the period. 86.07% of the stock is owned by institutional investors.

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.