Analysts Set Shake Shack, Inc. (NYSE:SHAK) Target Price at $124.90

Shares of Shake Shack, Inc. (NYSE:SHAK) have received an average rating of “Hold” from the twenty-three brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $125.95.

A number of equities research analysts recently issued reports on the company. BTIG Research lowered Shake Shack from a “buy” rating to a “neutral” rating in a research note on Monday, June 2nd. JPMorgan Chase & Co. upped their price objective on Shake Shack from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, June 25th. Raymond James Financial reissued a “strong-buy” rating and issued a $140.00 target price (down previously from $145.00) on shares of Shake Shack in a research note on Friday, May 2nd. KeyCorp assumed coverage on shares of Shake Shack in a research note on Monday, June 2nd. They set a “sector weight” rating on the stock. Finally, Bank of America lifted their price target on shares of Shake Shack from $112.00 to $134.00 and gave the stock a “neutral” rating in a report on Wednesday, June 25th.

Shake Shack Trading Down 2.1%

NYSE:SHAK opened at $137.07 on Friday. Shake Shack has a 52-week low of $72.93 and a 52-week high of $144.65. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $127.47 and a 200-day simple moving average of $111.43. The company has a market capitalization of $5.85 billion, a PE ratio of 489.54, a price-to-earnings-growth ratio of 3.30 and a beta of 1.77.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $320.90 million during the quarter, compared to analysts’ expectations of $330.24 million. Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company earned $0.13 EPS. On average, equities research analysts expect that Shake Shack will post 1.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Katherine Irene Fogertey sold 3,956 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $127.49, for a total transaction of $504,350.44. Following the completion of the sale, the chief financial officer owned 35,750 shares in the company, valued at approximately $4,557,767.50. The trade was a 9.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Harris Meyer sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $140.07, for a total transaction of $2,801,400.00. Following the sale, the director directly owned 367,984 shares of the company’s stock, valued at approximately $51,543,518.88. This trade represents a 5.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,391 shares of company stock worth $11,869,925 in the last quarter. 9.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Shake Shack

Institutional investors have recently bought and sold shares of the business. Driehaus Capital Management LLC purchased a new stake in Shake Shack during the 4th quarter worth $66,349,000. Nuveen LLC acquired a new position in shares of Shake Shack during the first quarter worth about $42,802,000. Ameriprise Financial Inc. lifted its stake in shares of 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 purchasing an additional 467,748 shares in the last quarter. Invesco Ltd. boosted its position in shares of Shake Shack by 30.7% in the fourth quarter. Invesco Ltd. now owns 1,245,093 shares of the company’s stock worth $161,613,000 after buying an additional 292,348 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of Shake Shack during the 1st quarter valued at about $17,064,000. 86.07% of the stock is currently owned by hedge funds and other 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.