Shake Shack (NYSE:SHAK) Price Target Raised to $77.00

Shake Shack (NYSE:SHAK) had its target price increased by JPMorgan Chase & Co. from $75.00 to $77.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. DA Davidson upped their target price on shares of Shake Shack from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Seaport Research Partners began coverage on shares of Shake Shack in a report on Wednesday, September 16th. They set a “neutral” rating on the stock. Zacks Research upgraded shares of Shake Shack from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Morgan Stanley boosted their price objective on shares of Shake Shack from $74.00 to $79.00 and gave the company an “equal weight” rating in a report on Thursday, October 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Shake Shack from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 21st. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.09.

Shake Shack Stock Performance

SHAK stock opened at $72.56 on Tuesday. The stock has a market capitalization of $3.11 billion, a PE ratio of 70.45, a price-to-earnings-growth ratio of 6.78 and a beta of 1.75. Shake Shack has a 12-month low of $51.60 and a 12-month high of $107.46. The company has a current ratio of 1.72, a quick ratio of 1.69 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $65.57 and its 200 day simple moving average is $74.04.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, November 5th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. Shake Shack had a return on equity of 9.38% and a net margin of 2.72%. The business had revenue of $423.27 million for the quarter, compared to the consensus estimate of $426.41 million. During the same period last year, the business posted $0.36 EPS. The company’s revenue was up 15.2% compared to the same quarter last year. As a group, research analysts forecast that Shake Shack will post 1.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Shake Shack during the first quarter valued at about $19,774,000. Assenagon Asset Management S.A. increased its holdings in Shake Shack by 602.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 217,617 shares of the company’s stock worth $12,191,000 after acquiring an additional 186,641 shares in the last quarter. Penn Capital Management Company LLC purchased a new stake in Shake Shack in the 3rd quarter worth approximately $8,438,000. GW&K Investment Management LLC raised its stake in Shake Shack by 91.2% during the 3rd quarter. GW&K Investment Management LLC now owns 288,498 shares of the company’s stock worth $16,929,000 after acquiring an additional 137,644 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new stake in Shake Shack during the 3rd quarter worth approximately $6,273,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Company Profile

Shake Shack operates a fast-casual restaurant business focused on burgers, chicken, hot dogs, crinkle-cut fries, shakes and frozen custard. Some locations also serve beer and wine. The company serves customers through restaurants and digital ordering, including delivery. The business grew from a hot dog cart opened in New York City’s Madison Square Park in 2001. Shake Shack opened its first permanent kiosk in the park in 2004 and has since expanded its restaurant operations. Shake Shack serves customers in the United States and internationally.