Barclays Cuts Shake Shack (SHAK) Price Target to $45.00

Shake Shack (NYSE:SHAK) had its price target lowered by research analysts at Barclays from $49.00 to $45.00 in a research note issued to investors on Friday. The brokerage currently has an “equal weight” rating on the stock. Barclays’ price objective would indicate a potential upside of 18.02% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. BidaskClub upgraded Shake Shack from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Jefferies Group cut Shake Shack from a “hold” rating to an “underperform” rating and set a $36.00 price target on the stock. in a report on Saturday, December 30th. SunTrust Banks restated a “buy” rating and issued a $50.00 price target on shares of Shake Shack in a report on Friday, November 3rd. Morgan Stanley upgraded Shake Shack from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $43.04 to $34.00 in a report on Thursday, December 7th. Finally, Cowen upped their price target on Shake Shack from $36.00 to $42.00 and gave the stock a “market perform” rating in a report on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. Shake Shack presently has an average rating of “Hold” and a consensus target price of $39.12.

Shake Shack (NYSE:SHAK) traded down $3.08 on Friday, hitting $38.13. The company had a trading volume of 4,379,590 shares, compared to its average volume of 948,554. The firm has a market cap of $1,455.94, a PE ratio of 61.50, a P/E/G ratio of 3.19 and a beta of 1.33. Shake Shack has a 1-year low of $30.12 and a 1-year high of $47.39.

In other news, CEO Randall J. Garutti sold 8,000 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $37.24, for a total transaction of $297,920.00. Following the sale, the chief executive officer now owns 18,961 shares in the company, valued at $706,107.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Peggy Rubenzer sold 5,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $46.37, for a total value of $231,850.00. Following the sale, the senior vice president now owns 22,415 shares in the company, valued at approximately $1,039,383.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,034,707 shares of company stock worth $43,848,268. 34.91% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of SHAK. Lord Abbett & CO. LLC boosted its holdings in shares of Shake Shack by 101.3% during the second quarter. Lord Abbett & CO. LLC now owns 706,704 shares of the company’s stock worth $24,650,000 after purchasing an additional 355,674 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Shake Shack by 39.1% during the fourth quarter. OppenheimerFunds Inc. now owns 1,005,241 shares of the company’s stock worth $43,427,000 after purchasing an additional 282,404 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Shake Shack by 866.7% during the fourth quarter. Wells Fargo & Company MN now owns 241,473 shares of the company’s stock worth $10,432,000 after purchasing an additional 216,494 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Shake Shack during the fourth quarter worth $7,601,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Shake Shack by 9.5% during the second quarter. Vanguard Group Inc. now owns 1,641,799 shares of the company’s stock worth $57,266,000 after purchasing an additional 143,027 shares during the last quarter. Institutional investors and hedge funds own 82.49% 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.

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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