Shake Shack, Inc. (NYSE:SHAK) had its price objective hoisted by stock analysts at Barclays PLC from $34.00 to $36.00 in a note issued to investors on Thursday, November 2nd. The brokerage presently has an “equal weight” rating on the stock. Barclays PLC’s price target would suggest a potential downside of 4.76% from the company’s previous close.
SHAK has been the subject of a number of other reports. Wedbush reissued a “buy” rating on shares of Shake Shack in a research note on Thursday, August 17th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $48.00 target price on shares of Shake Shack in a research note on Thursday, October 12th. TheStreet raised Shake Shack from a “d” rating to a “c-” rating in a research note on Thursday, August 3rd. Cowen and Company boosted their target price 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. Finally, Zacks Investment Research cut Shake Shack from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $37.33.
Shares of Shake Shack (SHAK) opened at $37.80 on Thursday. The firm has a market capitalization of $1,370.00 and a price-to-earnings ratio of 66.66. Shake Shack has a 52-week low of $30.12 and a 52-week high of $39.70.
Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $94.60 million during the quarter, compared to the consensus estimate of $94.17 million. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The firm’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 earnings per share. equities analysts forecast that Shake Shack will post 0.52 earnings per share for the current fiscal year.
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In related news, Director Jeffrey Flug sold 4,800 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was 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 $136,688.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Randall J. Garutti sold 8,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $31.12, for a total value of $248,960.00. Following the transaction, the chief executive officer now directly owns 18,961 shares of the company’s stock, valued at $590,066.32. The disclosure for this sale can be found here. Insiders have sold 272,030 shares of company stock valued at $9,354,722 over the last three months. Insiders own 34.91% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SHAK. FNY Partners Fund LP bought a new stake in Shake Shack in the first quarter valued at approximately $100,000. Victory Capital Management Inc. raised its stake in Shake Shack by 109.7% in the first quarter. Victory Capital Management Inc. now owns 3,715 shares of the company’s stock valued at $124,000 after buying an additional 1,943 shares during the period. State of Alaska Department of Revenue raised its stake in Shake Shack by 85.2% in the second quarter. State of Alaska Department of Revenue now owns 3,630 shares of the company’s stock valued at $126,000 after buying an additional 1,670 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in Shake Shack in the first quarter valued at approximately $137,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Shake Shack in the first quarter valued at approximately $137,000. Hedge funds and other institutional investors own 85.06% of the company’s stock.
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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