Morgan Stanley Increases Shake Shack, Inc. (SHAK) Price Target to $34.00

Shake Shack, Inc. (NYSE:SHAK) had its target price lifted by Morgan Stanley from $32.00 to $34.00 in a report issued on Thursday, November 2nd, Marketbeat reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also issued reports on SHAK. Wedbush restated a hold rating and issued a $36.00 price objective on shares of Shake Shack in a research note on Thursday, November 2nd. Cowen and Company upped their price objective on Shake Shack from $35.00 to $36.00 and gave the company a market perform rating in a research note on Thursday, November 2nd. BidaskClub upgraded Shake Shack from a hold rating to a buy rating in a research note on Thursday, October 26th. Zacks Investment Research lowered Shake Shack from a hold rating to a sell rating in a research note on Wednesday, July 19th. Finally, SunTrust Banks, Inc. restated a buy rating and issued a $48.00 price objective on shares of Shake Shack in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Shake Shack has an average rating of Hold and a consensus price target of $37.33.

Shake Shack (NYSE:SHAK) opened at $37.80 on Thursday. Shake Shack has a 52-week low of $30.12 and a 52-week high of $39.70. The company has a market capitalization of $1,370.00 and a P/E ratio of 66.66.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The firm had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $94.17 million. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 earnings per share. equities research analysts anticipate that Shake Shack will post 0.52 EPS for the current fiscal year.

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In other Shake Shack news, SVP Peggy Rubenzer sold 5,400 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $37.90, for a total transaction of $204,660.00. Following the transaction, the senior vice president now owns 22,815 shares in the company, valued at approximately $864,688.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $37.11, for a total value of $556,650.00. Following the completion of the sale, the director now directly owns 642 shares in the company, valued at approximately $23,824.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 272,030 shares of company stock worth $9,354,722. Corporate insiders own 34.91% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Neuberger Berman Group LLC boosted its holdings in shares of Shake Shack by 8.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 72,800 shares of the company’s stock valued at $2,419,000 after purchasing an additional 5,700 shares in the last quarter. Sylebra HK Co Ltd boosted its holdings in shares of Shake Shack by 2.6% in the 3rd quarter. Sylebra HK Co Ltd now owns 1,001,849 shares of the company’s stock valued at $33,291,000 after purchasing an additional 25,546 shares in the last quarter. OxFORD Asset Management LLP acquired a new stake in shares of Shake Shack in the 3rd quarter valued at $1,423,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Shake Shack in the 3rd quarter valued at $414,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Shake Shack by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 102,486 shares of the company’s stock valued at $3,406,000 after purchasing an additional 1,324 shares in the last quarter. 85.06% of the stock is currently owned by hedge funds and other institutional investors.

About Shake Shack

Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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