Shake Shack (NYSE:SHAK) Price Target Raised to $155.00 at Oppenheimer

Shake Shack (NYSE:SHAK) had its price target lifted by Oppenheimer from $145.00 to $155.00 in a report released on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research firms have also weighed in on SHAK. Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $125.00 to $159.00 in a research report on Tuesday. TD Cowen reiterated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Truist Financial increased their price target on Shake Shack from $144.00 to $147.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Shake Shack has an average rating of “Hold” and a consensus target price of $120.50.

Shake Shack Stock Performance

Shares of SHAK stock opened at $132.49 on Tuesday. The stock has a market capitalization of $5.63 billion, a PE ratio of 779.35, a PEG ratio of 2.83 and a beta of 1.86. The business’s 50 day simple moving average is $129.61 and its 200 day simple moving average is $109.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. Shake Shack has a one year low of $64.16 and a one year high of $139.89.

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

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the transaction, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at $4,223,894.67. The trade was a 2.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 22,691 shares of the stock in a transaction dated 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 sale, the director now owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,333 shares of company stock valued at $6,566,330. 9.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. lifted its position in shares of Shake Shack by 154.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after buying an additional 395,311 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Shake Shack during the third quarter valued at approximately $39,677,000. Holocene Advisors LP lifted its holdings in Shake Shack by 68.3% during the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after acquiring an additional 384,131 shares during the period. Marshall Wace LLP boosted its position in Shake Shack by 101.2% in the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after purchasing an additional 273,822 shares during the last quarter. Finally, Armistice Capital LLC grew 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 valued at $52,191,000 after purchasing an additional 236,950 shares during the period. 86.07% of the stock is currently owned by hedge funds and other 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.