Shake Shack (NYSE:SHAK) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Shake Shack (NYSE:SHAK) in a research note released on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $110.00 price objective on the stock.

Several other equities analysts have also issued reports on the company. StockNews.com lowered Shake Shack from a hold rating to a sell rating in a research note on Monday, March 4th. 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, May 3rd. Robert W. Baird increased their price target on Shake Shack from $102.00 to $105.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. increased their price target on Shake Shack from $102.00 to $105.00 and gave the company an underweight rating in a research report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Shake Shack has an average rating of Hold and a consensus target price of $99.17.

Shake Shack Stock Performance

NYSE SHAK opened at $89.00 on Thursday. The stock has a market cap of $3.77 billion, a PE ratio of 161.82, a P/E/G ratio of 3.67 and a beta of 1.79. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 0.52. Shake Shack has a twelve month low of $52.79 and a twelve month high of $111.29. The stock has a fifty day simple moving average of $98.49 and a 200-day simple moving average of $88.83.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The business had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $291.00 million. During the same period in the prior year, the business posted ($0.01) EPS. The company’s revenue was up 14.7% compared to the same quarter last year. Equities analysts anticipate that Shake Shack will post 0.74 earnings per share for the current year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the stock in a transaction dated Thursday, April 4th. The shares were 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 directly owns 3,754 shares of the company’s stock, valued at $386,699.54. The sale was disclosed in a filing with the SEC, which is available at this link. 9.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Shake Shack

Several large investors have recently modified their holdings of the business. QRG Capital Management Inc. grew its position in shares of Shake Shack by 4.5% in the fourth quarter. QRG Capital Management Inc. now owns 3,711 shares of the company’s stock valued at $275,000 after purchasing an additional 161 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Shake Shack in the first quarter valued at approximately $25,000. Natixis Advisors L.P. grew its position in shares of Shake Shack by 3.8% in the third quarter. Natixis Advisors L.P. now owns 10,695 shares of the company’s stock valued at $621,000 after purchasing an additional 388 shares during the last quarter. RFG Advisory LLC grew its position in shares of Shake Shack by 10.3% in the fourth quarter. RFG Advisory LLC now owns 4,401 shares of the company’s stock valued at $326,000 after purchasing an additional 412 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Shake Shack in the fourth quarter valued at approximately $32,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.