Shake Shack (NYSE:SHAK) Hits New 1-Year High at $68.00

Shake Shack Inc. (NYSE:SHAK – Get Rating)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $68.00 and last traded at $68.00, with a volume of 7747 shares. The stock had previously closed at $65.21.

Wall Street Analysts Forecast Growth

Several research firms have commented on SHAK. Wedbush boosted their target price on Shake Shack from $56.00 to $59.00 in a report on Friday, May 5th. UBS Group boosted their target price on Shake Shack from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, May 8th. Barclays boosted their price target on Shake Shack from $51.00 to $64.00 in a research note on Friday, May 5th. Robert W. Baird boosted their price target on Shake Shack from $62.00 to $74.00 in a research note on Tuesday. Finally, TheStreet upgraded Shake Shack from a “d+” rating to a “c-” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Shake Shack has a consensus rating of “Hold” and a consensus target price of $62.38.

Shake Shack Price Performance

The company has a current ratio of 2.31, a quick ratio of 2.28 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average of $57.01 and a 200 day moving average of $53.62.

Shake Shack (NYSE:SHAK – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. The company had revenue of $253.30 million during the quarter, compared to analysts’ expectations of $245.84 million. Shake Shack had a negative return on equity of 1.19% and a negative net margin of 1.63%. Shake Shack’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.19) earnings per share. As a group, research analysts anticipate that Shake Shack Inc. will post 0.09 earnings per share for the current year.

Institutional Trading of Shake Shack

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its position in Shake Shack by 260.3% in the fourth quarter. Quadrant Capital Group LLC now owns 825 shares of the company’s stock worth $34,000 after buying an additional 596 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Shake Shack by 67.9% in the first quarter. Tower Research Capital LLC TRC now owns 989 shares of the company’s stock worth $55,000 after buying an additional 400 shares in the last quarter. CWM LLC increased its position in Shake Shack by 24.6% in the third quarter. CWM LLC now owns 1,012 shares of the company’s stock worth $46,000 after buying an additional 200 shares in the last quarter. Natixis purchased a new stake in Shake Shack in the fourth quarter worth about $53,000. Finally, Byrne Asset Management LLC increased its position in Shake Shack by 206.7% in the first quarter. Byrne Asset Management LLC now owns 1,595 shares of the company’s stock worth $89,000 after buying an additional 1,075 shares in the last quarter. Hedge funds and other institutional investors own 83.55% of the company’s stock.

Shake Shack Company Profile

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Shake Shack, Inc engages in the operation and licensing of Shake Shack restaurants which serve burgers, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and more. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.