Shake Shack (NYSE:SHAK) Price Target Raised to $127.00 at Truist Financial

Shake Shack (NYSE:SHAK) had its price target upped by stock analysts at Truist Financial from $125.00 to $127.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 28.41% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Morgan Stanley lowered their price objective on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Capital One Financial assumed coverage on shares of Shake Shack in a research note on Monday. They set an “overweight” rating and a $95.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Shake Shack in a research report on Thursday, June 13th. They set a “buy” rating and a $110.00 target price on the stock. UBS Group boosted their price target on Shake Shack from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price objective 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, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.37.

Shake Shack Price Performance

Shake Shack stock opened at $98.90 on Friday. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 179.82, a price-to-earnings-growth ratio of 2.34 and a beta of 1.75. The firm has a 50-day moving average of $88.76 and a two-hundred day moving average of $92.76. Shake Shack has a 1 year low of $52.79 and a 1 year high of $111.29. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.03 and a quick ratio of 1.99.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The company had revenue of $316.50 million for the quarter, compared to the consensus estimate of $314.37 million. During the same period last year, the business posted $0.18 EPS. Shake Shack’s quarterly revenue was up 16.4% on a year-over-year basis. On average, research analysts forecast that Shake Shack will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On Shake Shack

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. lifted its stake in shares of Shake Shack by 4.5% in the 4th 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 period. CWM LLC raised its position in shares of Shake Shack by 24.7% in the second quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after acquiring an additional 207 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Shake Shack by 5.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,855 shares of the company’s stock worth $347,000 after acquiring an additional 212 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Shake Shack during the 1st quarter valued at about $25,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Shake Shack by 3.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,340 shares of the company’s stock valued at $751,000 after purchasing an additional 274 shares in the last quarter. 86.07% of the stock is 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.