Shake Shack, Inc. (NYSE:SHAK) had its price target upped by equities research analysts at Morgan Stanley from $32.00 to $34.00 in a research report issued on Thursday. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 8.06% from the company’s previous close.
Several other brokerages also recently commented on SHAK. Zacks Investment Research downgraded Shake Shack from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Wedbush reiterated an “outperform” rating and set a $40.00 price target (down previously from $43.00) on shares of Shake Shack in a report on Sunday, July 30th. BidaskClub downgraded Shake Shack from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Barclays PLC lowered their price target on Shake Shack from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Finally, TheStreet upgraded Shake Shack from a “d” rating to a “c-” rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $37.61.
Shares of Shake Shack (SHAK) traded up $1.08 on Thursday, reaching $36.98. 874,351 shares of the company traded hands, compared to its average volume of 678,145. The company has a market capitalization of $1,357.57, a price-to-earnings ratio of 66.04, a PEG ratio of 3.19 and a beta of 1.39. Shake Shack has a 52-week low of $30.12 and a 52-week high of $39.70.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. The firm had revenue of $94.60 million for the quarter, compared to analyst estimates of $94.17 million. Shake Shack had a net margin of 4.78% and a return on equity of 9.65%. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share. analysts anticipate that Shake Shack will post 0.52 earnings per share for the current fiscal year.
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In other news, major shareholder Equity Group L.P. Select sold 19,452 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $32.01, for a total value of $622,658.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey Flug sold 4,800 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $30.96, for a total transaction of $148,608.00. Following the completion of the sale, the director now owns 4,415 shares in the company, valued at approximately $136,688.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,452 shares of company stock worth $4,507,321. 34.91% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in SHAK. FNY Partners Fund LP acquired a new stake in shares of Shake Shack in the first quarter worth $100,000. Victory Capital Management Inc. boosted its stake in Shake Shack by 109.7% during the first quarter. Victory Capital Management Inc. now owns 3,715 shares of the company’s stock worth $124,000 after buying an additional 1,943 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Shake Shack by 85.2% during the second quarter. State of Alaska Department of Revenue now owns 3,630 shares of the company’s stock worth $126,000 after buying an additional 1,670 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Shake Shack during the first quarter worth $137,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in Shake Shack during the first quarter worth $137,000. Institutional investors and hedge funds own 83.92% of the company’s stock.
About Shake Shack
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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