Shake Shack (SHAK) Price Target Raised to $42.00

Shake Shack (NYSE:SHAK) had its price objective lifted by Cowen from $36.00 to $42.00 in a research note issued on Tuesday, December 19th, The Fly reports. The firm currently has a “market perform” rating on the stock. Cowen’s price target would suggest a potential downside of 3.40% from the stock’s previous close.

Several other equities research analysts also recently weighed in on SHAK. SunTrust Banks reissued a “buy” rating on shares of Shake Shack in a report on Monday, August 21st. BidaskClub raised Shake Shack from a “strong sell” rating to a “sell” rating in a report on Saturday, September 23rd. Wedbush downgraded Shake Shack from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $40.00 to $36.00 in a report on Tuesday, September 26th. Morgan Stanley increased their price objective on Shake Shack from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Finally, Barclays increased their price objective on Shake Shack from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $37.76.

Shake Shack (NYSE SHAK) traded down $0.76 during mid-day trading on Tuesday, hitting $43.48. 701,613 shares of the company were exchanged, compared to its average volume of 721,321. The stock has a market capitalization of $1,610.00 and a price-to-earnings ratio of 70.13. Shake Shack has a 12-month low of $30.12 and a 12-month high of $47.39.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. The firm had revenue of $94.60 million during the quarter, compared to the consensus estimate of $94.17 million. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 earnings per share. equities analysts predict that Shake Shack will post 0.52 earnings per share for the current year.

In other Shake Shack news, SVP Peggy Rubenzer sold 5,400 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $37.90, for a total value of $204,660.00. Following the completion of the transaction, the senior vice president now owns 22,815 shares in the company, valued at $864,688.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Randall J. Garutti sold 8,000 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $35.62, for a total value of $284,960.00. Following the completion of the transaction, the chief executive officer now owns 18,961 shares of the company’s stock, valued at approximately $675,390.82. The disclosure for this sale can be found here. Insiders sold 1,058,737 shares of company stock valued at $43,750,477 in the last quarter. 34.91% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. increased its position in shares of Shake Shack by 0.3% in the second quarter. Alps Advisors Inc. now owns 15,588 shares of the company’s stock valued at $544,000 after buying an additional 41 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Shake Shack by 6.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,380 shares of the company’s stock valued at $153,000 after acquiring an additional 280 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Shake Shack by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 101,162 shares of the company’s stock valued at $3,529,000 after acquiring an additional 320 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Shake Shack by 4.3% during the second quarter. Arizona State Retirement System now owns 9,700 shares of the company’s stock valued at $338,000 after acquiring an additional 400 shares during the last quarter. Finally, Texas Permanent School Fund boosted its stake in shares of Shake Shack by 4.2% during the second quarter. Texas Permanent School Fund now owns 13,540 shares of the company’s stock valued at $472,000 after acquiring an additional 549 shares during the last quarter. Institutional investors and hedge funds own 83.16% of the company’s stock.

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About Shake Shack

Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.

The Fly

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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