Shake Shack (NYSE:SHAK) Price Target Raised to $155.00 at Oppenheimer

Shake Shack (NYSE:SHAK) had its target price hoisted by Oppenheimer from $145.00 to $155.00 in a report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. Truist Financial increased their price objective on Shake Shack from $144.00 to $147.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $102.00 price target (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Barclays upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $125.00 to $159.00 in a research note on Tuesday. Finally, TD Cowen restated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Shake Shack presently has a consensus rating of “Hold” and a consensus price target of $120.50.

Shake Shack Stock Performance

NYSE SHAK opened at $132.49 on Tuesday. The stock has a market cap of $5.63 billion, a PE ratio of 779.35, a P/E/G ratio of 2.83 and a beta of 1.86. 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 50-day moving average of $129.61 and a 200-day moving average of $109.57. Shake Shack has a 52-week low of $64.16 and a 52-week high of $139.89.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm had revenue of $316.92 million during the quarter, compared to the consensus estimate of $316.03 million. During the same period last year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Shake Shack will post 0.82 EPS for the current year.

Insider Buying and Selling

In related news, CFO Katherine Irene Fogertey sold 642 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the transaction, the chief financial officer now directly owns 30,717 shares in the company, valued at $4,223,894.67. This represents a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 22,691 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the completion of the sale, the director now owns 437,646 shares in the company, valued at $54,473,797.62. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,333 shares of company stock worth $6,566,330 in the last ninety days. 9.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Shake Shack

Institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of Shake Shack during the second quarter worth about $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Shake Shack during the 3rd quarter worth approximately $41,000. Kimelman & Baird LLC bought a new stake in Shake Shack during the 2nd quarter worth approximately $45,000. Covestor Ltd grew its holdings in Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after acquiring an additional 205 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Shake Shack by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $96,000 after acquiring an additional 265 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

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.