Shake Shack (NYSE:SHAK) Trading 7.8% Higher – Here’s What Happened

Shake Shack Inc. (NYSE:SHAK)’s share price rose 7.8% on Tuesday . The stock traded as high as $115.50 and last traded at $116.82. Approximately 569,715 shares were traded during trading, a decline of 53% from the average daily volume of 1,204,432 shares. The stock had previously closed at $108.40.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wedbush reissued a “neutral” rating and issued a $130.00 price objective on shares of Shake Shack in a research note on Wednesday, January 15th. Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a research report on Wednesday, January 8th. Barclays upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $125.00 to $159.00 in a report on Tuesday, January 7th. UBS Group increased their price objective on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, Truist Financial lowered their target price on Shake Shack from $149.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $124.29.

Shake Shack Trading Up 11.4 %

The company’s fifty day moving average price is $122.24 and its 200-day moving average price is $116.17. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 728.96 and a beta of 1.86. 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 (NYSE:SHAK) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. On average, research analysts expect that Shake Shack Inc. will post 0.9 EPS for the current fiscal year.

Insider Activity

In other news, CFO Katherine Irene Fogertey sold 642 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at $4,223,894.67. This represents a 2.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.73% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its stake in shares of Shake Shack by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the company’s stock worth $2,518,000 after purchasing an additional 100 shares during the period. Quadrant Capital Group LLC grew its holdings in Shake Shack by 5.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company’s stock valued at $243,000 after buying an additional 100 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Shake Shack by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock worth $3,241,000 after purchasing an additional 139 shares during the last quarter. Summit Financial LLC raised its position in Shake Shack by 1.1% in the fourth quarter. Summit Financial LLC now owns 13,083 shares of the company’s stock valued at $1,698,000 after purchasing an additional 139 shares during the period. Finally, Arizona State Retirement System boosted its stake in Shake Shack by 1.7% during the fourth quarter. Arizona State Retirement System now owns 11,024 shares of the company’s stock worth $1,431,000 after buying an additional 182 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.