Jefferies Group Lowers Shake Shack (SHAK) to Underperform

Jefferies Group lowered shares of Shake Shack (NYSE:SHAK) from a hold rating to an underperform rating in a research report report published on Friday morning, Marketbeat reports. The firm currently has $36.00 price objective on the stock. Jefferies Group also issued estimates for Shake Shack’s Q1 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.05 EPS and FY2019 earnings at $0.65 EPS.

Several other research firms also recently commented on SHAK. BidaskClub upgraded shares of Shake Shack from a sell rating to a hold rating in a research report on Tuesday, October 3rd. Morgan Stanley upgraded shares of Shake Shack from an underweight rating to an equal weight rating and reduced their price target for the company from $43.04 to $34.00 in a research report on Thursday, December 7th. Barclays upped their price target on shares of Shake Shack from $34.00 to $36.00 and gave the company an equal weight rating in a research report on Thursday, November 2nd. Cowen upped their price target on shares of Shake Shack from $36.00 to $42.00 and gave the company a market perform rating in a research report on Tuesday, December 19th. Finally, Wedbush reiterated a hold rating and issued a $36.00 price target on shares of Shake Shack in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $37.76.

Shake Shack (NYSE:SHAK) opened at $44.79 on Friday. Shake Shack has a twelve month low of $30.12 and a twelve month high of $46.90. The stock has a market cap of $1,650.00 and a price-to-earnings ratio of 72.24.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. Shake Shack had a net margin of 4.78% and a return on equity of 9.42%. The firm had revenue of $94.60 million during the quarter, compared to the consensus estimate of $94.17 million. During the same quarter in the prior year, the firm earned $0.15 EPS. Shake Shack’s revenue for the quarter was up 26.8% on a year-over-year basis. research analysts forecast that Shake Shack will post 0.52 earnings per share for the current year.

In other Shake Shack news, CEO Randall J. Garutti sold 8,000 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $35.62, for a total transaction of $284,960.00. Following the completion of the transaction, the chief executive officer now owns 18,961 shares in the company, valued at approximately $675,390.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Peggy Rubenzer sold 5,000 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $46.37, for a total transaction of $231,850.00. Following the transaction, the senior vice president now owns 22,415 shares of the company’s stock, valued at approximately $1,039,383.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 895,461 shares of company stock valued at $36,526,449. 34.91% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan raised its position in Shake Shack by 6.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,380 shares of the company’s stock worth $153,000 after buying an additional 280 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Shake Shack by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 101,162 shares of the company’s stock worth $3,529,000 after buying an additional 320 shares during the last quarter. Arizona State Retirement System raised its position in Shake Shack by 4.3% during the 2nd quarter. Arizona State Retirement System now owns 9,700 shares of the company’s stock worth $338,000 after buying an additional 400 shares during the last quarter. Texas Permanent School Fund raised its position in Shake Shack by 4.2% during the 2nd quarter. Texas Permanent School Fund now owns 13,540 shares of the company’s stock worth $472,000 after buying an additional 549 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Shake Shack by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,371 shares of the company’s stock worth $152,000 after buying an additional 656 shares during the last quarter. Institutional investors own 83.16% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of international trademark and copyright laws. The original version of this piece can be viewed at https://www.com-unik.info/2017/12/25/jefferies-group-lowers-shake-shack-shak-to-underperform.html.

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.

Analyst Recommendations for Shake Shack (NYSE:SHAK)

Receive News & Ratings for Shake Shack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shake Shack and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit