Shake Shack (SHAK) – Analysts’ Recent Ratings Updates

A number of research firms have changed their ratings and price targets for Shake Shack (NYSE: SHAK):

• 8/19/2024 – Shake Shack had its price target raised by analysts at Bank of America Co. from $104.00 to $116.00. They now have a “neutral” rating on the stock.
• 8/19/2024 – Shake Shack was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating. They now have a $114.00 price target on the stock, down previously from $121.00.
• 8/2/2024 – Shake Shack had its price target raised by analysts at Robert W. Baird from $93.00 to $105.00. They now have a “neutral” rating on the stock.
• 8/2/2024 – Shake Shack had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $105.00 to $115.00. They now have a “hold” rating on the stock.
• 8/2/2024 – Shake Shack had its price target raised by analysts at Barclays PLC from $108.00 to $110.00. They now have an “equal weight” rating on the stock.
• 8/2/2024 – Shake Shack had its price target raised by analysts at The Goldman Sachs Group, Inc. from $110.00 to $125.00. They now have a “buy” rating on the stock.
• 8/2/2024 – Shake Shack had its price target raised by analysts at Truist Financial Co. from $125.00 to $127.00. They now have a “buy” rating on the stock.
• 8/1/2024 – Shake Shack had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $90.00 price target on the stock.
• 8/1/2024 – Shake Shack had its “buy” rating reaffirmed by analysts at TD Cowen. They now have a $125.00 price target on the stock.
• 7/29/2024 – Shake Shack is now covered by analysts at Capital One Financial Co.. They set an “overweight” rating and a $95.00 price target on the stock.
• 7/19/2024 – Shake Shack had its price target lowered by analysts at Wedbush from $110.00 to $90.00. They now have a “neutral” rating on the stock.
• 7/17/2024 – Shake Shack had its price target lowered by analysts at Bank of America Co. from $116.00 to $96.00. They now have a “neutral” rating on the stock.
• 7/16/2024 – Shake Shack had its price target lowered by analysts at Morgan Stanley from $108.00 to $100.00. They now have an “equal weight” rating on the stock.
• 7/1/2024 – Shake Shack had its price target raised by analysts at Truist Financial Co. from $124.00 to $125.00. They now have a “buy” rating on the stock.

Shake Shack Stock Performance

SHAK stock traded up $5.33 during midday trading on Wednesday, hitting $106.61. The company’s stock had a trading volume of 793,670 shares, compared to its average volume of 952,758. Shake Shack Inc. has a 1 year low of $52.79 and a 1 year high of $111.29. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 193.84, a PEG ratio of 3.28 and a beta of 1.75. The stock’s 50-day moving average price is $90.90 and its 200 day moving average price is $95.87. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The company had revenue of $316.50 million for the quarter, compared to the consensus estimate of $314.37 million. During the same period in the previous year, the firm earned $0.18 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts forecast that Shake Shack Inc. will post 0.73 EPS for the current year.

Insider Transactions at Shake Shack

In related news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the sale, the director now owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the transaction, the director now directly owns 3,347 shares of the company’s stock, valued at approximately $302,535.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total value of $1,102,400.00. Following the completion of the sale, the director now owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. The disclosure for this sale can be found here. Insiders sold 11,892 shares of company stock valued at $1,279,534 over the last three months. Company insiders own 9.73% of the company’s stock.

Institutional Trading of Shake Shack

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace LLP lifted its position in shares of Shake Shack by 101.2% during the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock valued at $48,990,000 after buying an additional 273,822 shares in the last quarter. Armistice Capital LLC boosted its position in shares of Shake Shack by 69.1% in the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after purchasing an additional 236,950 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Shake Shack by 471.9% in the second quarter. Point72 Asset Management L.P. now owns 255,374 shares of the company’s stock worth $22,984,000 after purchasing an additional 210,717 shares in the last quarter. Norges Bank purchased a new stake in shares of Shake Shack in the fourth quarter worth $12,238,000. Finally, Jennison Associates LLC purchased a new position in shares of Shake Shack during the 1st quarter valued at $16,365,000. 86.07% of the stock is currently owned by institutional investors.

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.