Shake Shack, Inc. (NYSE:SHAK) had its price objective boosted by equities research analysts at Cowen and Company from $35.00 to $36.00 in a research note issued on Thursday, November 2nd, MarketBeat reports. The brokerage presently has a “market perform” rating on the stock. Cowen and Company’s target price would indicate a potential downside of 5.26% from the stock’s previous close.
Several other equities research analysts also recently commented on the stock. BidaskClub upgraded shares of Shake Shack from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Wedbush restated an “outperform” rating and issued a $40.00 price target (down previously from $43.00) on shares of Shake Shack in a research report on Sunday, July 30th. Barclays PLC cut their target price on shares of Shake Shack from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, August 4th. Zacks Investment Research downgraded shares of Shake Shack from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, TheStreet upgraded shares of Shake Shack from a “d” rating to a “c-” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $37.33.
Shares of Shake Shack (NYSE:SHAK) traded up $0.22 during trading hours on Thursday, hitting $38.00. 606,300 shares of the company’s stock traded hands, compared to its average volume of 719,152. Shake Shack has a 12 month low of $30.12 and a 12 month high of $39.70. The firm has a market capitalization of $1,387.62, a price-to-earnings ratio of 67.46, a P/E/G ratio of 3.27 and a beta of 1.39.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The business had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $94.17 million. Shake Shack had a net margin of 4.78% and a return on equity of 9.42%. The business’s revenue was up 26.8% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. analysts anticipate that Shake Shack will post 0.52 EPS for the current fiscal year.
In related news, Director Jeffrey Flug sold 4,800 shares of Shake Shack stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $30.96, for a total transaction of $148,608.00. Following the completion of the transaction, the director now directly owns 4,415 shares of the company’s stock, valued at approximately $136,688.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Zach Koff sold 5,000 shares of Shake Shack stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $37.00, for a total transaction of $185,000.00. Following the transaction, the chief operating officer now directly owns 8,978 shares of the company’s stock, valued at $332,186. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 266,630 shares of company stock worth $9,150,062. 34.91% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in shares of Shake Shack by 5.7% in the second quarter. FMR LLC now owns 2,615,287 shares of the company’s stock worth $91,221,000 after acquiring an additional 142,140 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Shake Shack by 5.8% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,318,882 shares of the company’s stock worth $80,883,000 after acquiring an additional 128,075 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Shake Shack by 9.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,641,799 shares of the company’s stock worth $57,266,000 after buying an additional 143,027 shares during the period. Sylebra HK Co Ltd grew its position in shares of Shake Shack by 2.6% during the 3rd quarter. Sylebra HK Co Ltd now owns 1,001,849 shares of the company’s stock worth $33,291,000 after buying an additional 25,546 shares during the period. Finally, Macquarie Group Ltd. grew its position in shares of Shake Shack by 18.9% during the 2nd quarter. Macquarie Group Ltd. now owns 844,390 shares of the company’s stock worth $29,452,000 after buying an additional 134,386 shares during the period. 81.87% of the stock is owned by institutional investors.
Shake Shack Company Profile
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.
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