Shake Shack (NYSE:SHAK) Now Covered by Analysts at Wells Fargo & Company

Investment analysts at Wells Fargo & Company initiated coverage on shares of Shake Shack (NYSE:SHAK) in a report issued on Wednesday,Briefing.com Automated Import reports. The brokerage set an “equal weight” rating and a $95.00 price target on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 0.23% from the stock’s current price.

A number of other equities analysts also recently weighed in on SHAK. Truist Financial boosted their target price on shares of Shake Shack from $143.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wedbush boosted their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Oppenheimer increased their price objective on Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Gordon Haskett upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their price target on Shake Shack from $107.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $124.05.

Shake Shack Stock Down 0.3 %

NYSE SHAK opened at $95.22 on Wednesday. The stock’s 50 day simple moving average is $106.80 and its 200 day simple moving average is $115.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. Shake Shack has a one year low of $77.50 and a one year high of $139.89. The firm has a market cap of $4.05 billion, a PE ratio of 414.00 and a beta of 1.89.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The company had revenue of $328.68 million during the quarter, compared to analyst estimates of $329.02 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. As a group, sell-side analysts forecast that Shake Shack will post 1.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Shake Shack by 13.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,192 shares of the company’s stock worth $544,000 after acquiring an additional 489 shares in the last quarter. Jefferies Financial Group Inc. increased its stake in Shake Shack by 98.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 21,819 shares of the company’s stock worth $2,832,000 after purchasing an additional 10,819 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Shake Shack by 9.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 31,370 shares of the company’s stock worth $4,072,000 after purchasing an additional 2,690 shares in the last quarter. RB Capital Management LLC acquired a new stake in Shake Shack during the 4th quarter worth approximately $286,000. Finally, Woodline Partners LP lifted its stake in Shake Shack by 6.7% in the fourth quarter. Woodline Partners LP now owns 60,378 shares of the company’s stock valued at $7,837,000 after buying an additional 3,809 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors.

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.