Shake Shack (NYSE:SHAK) Hits New 12-Month High on Analyst Upgrade

Shake Shack Inc. (NYSE:SHAK)’s stock price hit a new 52-week high on Monday after BTIG Research raised their price target on the stock from $120.00 to $125.00. BTIG Research currently has a buy rating on the stock. Shake Shack traded as high as $111.29 and last traded at $109.09, with a volume of 388089 shares traded. The stock had previously closed at $107.47.

A number of other equities research analysts have also commented on SHAK. Oppenheimer increased their price target on Shake Shack from $108.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. UBS Group increased their price target on Shake Shack from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley increased their price target on Shake Shack from $88.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Raymond James increased their price target on Shake Shack from $90.00 to $115.00 and gave the company a “strong-buy” rating in a research report on Friday, February 16th. Finally, TD Cowen reissued a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $98.24.

Insider Transactions at Shake Shack

In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $103.01, for a total value of $31,315.04. Following the completion of the transaction, the director now owns 3,754 shares in the company, valued at approximately $386,699.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $103.01, for a total value of $31,315.04. Following the completion of the transaction, the director now owns 3,754 shares in the company, valued at approximately $386,699.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 6,034 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $100.08, for a total value of $603,882.72. Following the completion of the transaction, the director now owns 520,437 shares of the company’s stock, valued at approximately $52,085,334.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,608 shares of company stock worth $10,178,861. 10.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Shake Shack

Institutional investors have recently made changes to their positions in the stock. 12 West Capital Management LP grew its holdings in shares of Shake Shack by 82.2% during the 3rd quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock valued at $96,373,000 after purchasing an additional 748,789 shares during the last quarter. Linonia Partnership LP bought a new position in shares of Shake Shack during the 4th quarter valued at $41,046,000. Qube Research & Technologies Ltd grew its holdings in shares of Shake Shack by 130.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock valued at $25,370,000 after purchasing an additional 246,952 shares during the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of Shake Shack by 19.3% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company’s stock valued at $60,761,000 after purchasing an additional 168,947 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Shake Shack during the 4th quarter valued at $12,238,000. Institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Performance

The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average is $102.37 and its 200 day moving average is $80.77. The company has a market cap of $4.56 billion, a P/E ratio of 197.80, a price-to-earnings-growth ratio of 3.79 and a beta of 1.78.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $290.50 million for the quarter, compared to analyst estimates of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) EPS. As a group, equities analysts predict that Shake Shack Inc. will post 0.72 earnings per share for the current fiscal year.

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.