Shake Shack (NYSE:SHAK) Price Target Raised to $147.00 at Truist Financial

Shake Shack (NYSE:SHAK) had its price objective increased by investment analysts at Truist Financial from $144.00 to $147.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 16.63% from the stock’s current price.

SHAK has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $115.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. Barclays lifted their price target on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Oppenheimer increased their price objective on Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Finally, TD Cowen restated a “buy” rating and set a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $113.12.

Shake Shack Stock Performance

Shares of NYSE:SHAK traded up $0.14 during trading on Thursday, reaching $126.04. 92,848 shares of the company’s stock traded hands, compared to its average volume of 921,445. Shake Shack has a 12 month low of $64.16 and a 12 month high of $139.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The stock has a market capitalization of $5.35 billion, a P/E ratio of 741.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85. The company has a 50 day moving average of $123.29 and a 200-day moving average of $105.45.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. During the same period last year, the firm posted $0.17 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. On average, equities analysts expect that Shake Shack will post 0.82 EPS for the current year.

Insider Buying and Selling at Shake Shack

In other news, Director Daniel Harris Meyer sold 22,691 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the completion of the transaction, the director now directly owns 437,646 shares of the company’s stock, valued at $54,473,797.62. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now owns 36,180 shares of the company’s stock, valued at $3,760,187.40. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,754 shares of company stock worth $7,711,497. Insiders own 9.73% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Several hedge funds have recently bought and sold shares of the stock. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Shake Shack during the 3rd quarter worth approximately $41,000. Quest Partners LLC bought a new position in shares of Shake Shack during the 2nd quarter worth about $38,000. Kimelman & Baird LLC acquired a new stake in shares of Shake Shack in the 2nd quarter valued at about $45,000. Covestor Ltd increased its position in Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after buying an additional 205 shares in the last quarter. Finally, KBC Group NV grew its stake in Shake Shack by 24.1% in the third quarter. KBC Group NV now owns 1,206 shares of the company’s stock valued at $124,000 after acquiring an additional 234 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.