Truist Financial Lowers Shake Shack (NYSE:SHAK) Price Target to $143.00

Shake Shack (NYSE:SHAK) had its price target dropped by equities researchers at Truist Financial from $149.00 to $143.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 22.61% from the company’s previous close.

Several other research analysts have also issued reports on the company. Oppenheimer increased their price target on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 target price (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Stifel Nicolaus boosted their price target on shares of Shake Shack from $115.00 to $128.00 and gave the company a “hold” rating in a research note on Friday, January 10th. TD Cowen reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Finally, UBS Group boosted their target price on shares of Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $124.78.

Shake Shack Stock Performance

NYSE:SHAK opened at $116.63 on Tuesday. The firm has a market capitalization of $4.95 billion, a P/E ratio of 686.06, a P/E/G ratio of 2.83 and a beta of 1.86. Shake Shack has a twelve month low of $64.16 and a twelve month high of $139.89. The company has a fifty day moving average of $129.59 and a 200-day moving average of $110.96. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51.

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

Insider Transactions at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the sale, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the transaction, the director now owns 407,646 shares in the company, valued at $49,647,206.34. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,333 shares of company stock worth $6,566,330 in the last quarter. Insiders own 9.73% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

A number of large investors have recently added to or reduced their stakes in SHAK. State Street Corp increased its position in shares of Shake Shack by 3.5% during the 3rd quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after purchasing an additional 49,324 shares during the last quarter. Holocene Advisors LP boosted its stake in Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after buying an additional 384,131 shares in the last quarter. Geode Capital Management LLC grew its position in Shake Shack by 3.1% during the third quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock valued at $90,470,000 after acquiring an additional 26,620 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Shake Shack by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock worth $72,088,000 after acquiring an additional 66,090 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Shake Shack by 154.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after acquiring an additional 395,311 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

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.