Shake Shack (NYSE:SHAK) PT Lowered to $96.00

Shake Shack (NYSE:SHAK) had its price target dropped by stock analysts at Bank of America from $116.00 to $96.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target indicates a potential upside of 10.94% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. BTIG Research raised their target price on shares of Shake Shack from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Truist Financial lifted their price target on shares of Shake Shack from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, July 1st. TD Cowen reaffirmed a “buy” rating and set a $125.00 price target on shares of Shake Shack in a research report on Thursday, June 13th. The Goldman Sachs Group initiated coverage on shares of Shake Shack in a research report on Thursday, June 13th. They set a “buy” rating and a $110.00 price target on the stock. Finally, Morgan Stanley reduced their price target on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $100.61.

Shake Shack Price Performance

NYSE SHAK traded down $1.44 during trading hours on Wednesday, reaching $86.53. The company’s stock had a trading volume of 532,269 shares, compared to its average volume of 890,630. Shake Shack has a fifty-two week low of $52.79 and a fifty-two week high of $111.29. The stock has a market cap of $3.66 billion, a PE ratio of 157.33, a PEG ratio of 3.00 and a beta of 1.75. The company’s 50-day moving average is $92.75 and its two-hundred day moving average is $91.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.99 and a current ratio of 2.03.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The company had revenue of $290.50 million for the quarter, compared to analysts’ expectations of $291.00 million. During the same period last year, the company earned ($0.01) EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. Analysts forecast that Shake Shack will post 0.75 EPS for the current year.

Institutional Trading of Shake Shack

Several institutional investors have recently added to or reduced their stakes in SHAK. Linonia Partnership LP bought a new stake in Shake Shack during the fourth quarter valued at $41,046,000. Norges Bank bought a new stake in Shake Shack during the fourth quarter valued at $12,238,000. Jennison Associates LLC bought a new stake in Shake Shack during the first quarter valued at $16,365,000. Armistice Capital LLC bought a new stake in Shake Shack during the fourth quarter valued at $11,213,000. Finally, Kettle Hill Capital Management LLC bought a new stake in Shake Shack during the fourth quarter valued at $6,745,000. Institutional investors own 86.07% of the company’s stock.

Shake Shack Company Profile

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.