Shake Shack Inc. (NYSE:SHAK – Get Free Report) has been given a consensus recommendation of “Hold” by the fifteen research firms that are covering the company, Marketbeat reports. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $71.65.
SHAK has been the subject of a number of recent research reports. Wedbush reissued a “neutral” rating and issued a $73.00 target price on shares of Shake Shack in a report on Friday, August 4th. Robert W. Baird upped their target price on shares of Shake Shack from $74.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. Stifel Nicolaus dropped their price target on Shake Shack from $62.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, November 14th. Loop Capital upped their price objective on Shake Shack from $60.00 to $71.00 in a research report on Friday, August 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Shake Shack in a report on Thursday, October 19th. They issued a “hold” rating and a $62.00 target price for the company.
Shake Shack Stock Performance
Institutional Investors Weigh In On Shake Shack
Hedge funds have recently modified their holdings of the business. 12 West Capital Management LP boosted its position in Shake Shack by 82.2% during the third quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock valued at $96,373,000 after purchasing an additional 748,789 shares in the last quarter. Champlain Investment Partners LLC grew its position in shares of Shake Shack by 44.3% in the 1st quarter. Champlain Investment Partners LLC now owns 1,289,965 shares of the company’s stock worth $71,580,000 after buying an additional 395,760 shares during the last quarter. Man Group plc raised its stake in shares of Shake Shack by 1,416.0% during the 4th quarter. Man Group plc now owns 418,006 shares of the company’s stock worth $17,360,000 after acquiring an additional 390,433 shares in the last quarter. Norges Bank purchased a new stake in Shake Shack during the fourth quarter valued at approximately $12,514,000. Finally, Qube Research & Technologies Ltd boosted its stake in Shake Shack by 130.0% in the third quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock valued at $25,370,000 after acquiring an additional 246,952 shares in the last quarter. Hedge funds and other institutional investors own 91.70% of the company’s stock.
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.
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