Shake Shack (NYSE:SHAK) Trading 5.1% Higher After Analyst Upgrade

Shake Shack Inc. (NYSE:SHAK) shares rose 5.1% during trading on Monday after Truist Financial raised their price target on the stock from $143.00 to $154.00. Truist Financial currently has a buy rating on the stock. Shake Shack traded as high as $114.58 and last traded at $114.30. Approximately 1,398,272 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 1,458,953 shares. The stock had previously closed at $108.72.

Several other equities analysts also recently weighed in on the company. Stifel Nicolaus lowered their target price on Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday, January 17th. Gordon Haskett raised 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. Wedbush upped their target price on Shake Shack from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $159.00 in a research note on Tuesday, January 7th. Finally, UBS Group increased their target price on shares of Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Shake Shack has a consensus rating of “Hold” and an average price target of $125.50.

Insider Buying and Selling

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 30,717 shares in the company, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.73% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Nemes Rush Group LLC purchased a new position in shares of Shake Shack in the 4th quarter valued at about $29,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Shake Shack in the fourth quarter valued at approximately $32,000. Transcendent Capital Group LLC acquired a new position in shares of Shake Shack during the 4th quarter worth approximately $52,000. R Squared Ltd purchased a new position in shares of Shake Shack during the 4th quarter valued at approximately $56,000. Finally, Montag & Caldwell LLC acquired a new stake in Shake Shack in the 4th quarter valued at $68,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Trading Up 5.5 %

The company has a 50 day simple moving average of $121.79 and a 200 day simple moving average of $116.52. The company has a market capitalization of $4.87 billion, a PE ratio of 498.13 and a beta of 1.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The company had revenue of $328.68 million for the quarter, compared to analyst estimates of $329.02 million. Analysts anticipate that Shake Shack Inc. will post 1.26 earnings per share for the current year.

About Shake Shack

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.