Truist Financial Reaffirms Buy Rating for Shake Shack (NYSE:SHAK)

Truist Financial reissued their buy rating on shares of Shake Shack (NYSE:SHAK) in a research report released on Wednesday morning, Benzinga reports. The firm currently has a $127.00 target price on the stock.

A number of other research firms have also weighed in on SHAK. The Goldman Sachs Group upped their target price on shares of Shake Shack from $110.00 to $125.00 and gave the stock a buy rating in a report on Friday, August 2nd. Bank of America upped their target price on shares of Shake Shack from $104.00 to $116.00 and gave the stock a neutral rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft restated a hold rating and issued a $115.00 target price on shares of Shake Shack in a report on Wednesday. UBS Group upped their target price on shares of Shake Shack from $110.00 to $115.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Finally, TD Cowen reaffirmed a buy rating and issued a $125.00 price objective on shares of Shake Shack in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $106.37.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $99.41 on Wednesday. The firm’s 50-day moving average price is $93.18 and its 200-day moving average price is $97.17. Shake Shack has a 1-year low of $52.79 and a 1-year high of $111.29. The firm has a market capitalization of $4.21 billion, a P/E ratio of 180.75, a P/E/G ratio of 3.28 and a beta of 1.75. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last posted its 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 analyst estimates of $314.37 million. During the same quarter in the prior year, the business posted $0.18 EPS. The firm’s revenue was up 16.4% compared to the same quarter last year. Equities research analysts anticipate that Shake Shack will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Daniel Harris Meyer sold 10,000 shares of the 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 completion of the transaction, the director now directly 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 can be accessed through this hyperlink. In related news, Director Daniel Harris Meyer sold 10,000 shares of the firm’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 value of $1,102,400.00. Following the completion of the transaction, the director now directly 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 SEC, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 963 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total transaction of $92,476.89. Following the completion of the transaction, the chief financial officer now directly owns 37,464 shares of the company’s stock, valued at $3,597,667.92. The disclosure for this sale can be found here. Insiders sold 11,892 shares of company stock valued at $1,279,534 in the last three months. Company insiders own 9.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SHAK. Marshall Wace LLP boosted its holdings in Shake Shack by 101.2% in the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after buying an additional 273,822 shares during the period. Armistice Capital LLC lifted its stake in Shake Shack by 69.1% in the 2nd 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 in the last quarter. Point72 Asset Management L.P. lifted its stake in Shake Shack by 471.9% in the 2nd 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 Shake Shack in the 4th quarter worth approximately $12,238,000. Finally, Jennison Associates LLC purchased a new stake in Shake Shack in the 1st quarter worth approximately $16,365,000. 86.07% of the stock is owned by institutional investors.

Shake Shack Company Profile

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.