Shake Shack (NYSE:SHAK) Given “Buy” Rating at TD Cowen

Shake Shack (NYSE:SHAK)‘s stock had its “buy” rating reiterated by research analysts at TD Cowen in a research report issued on Thursday, Benzinga reports. They presently have a $125.00 price objective on the stock. TD Cowen’s price objective would indicate a potential upside of 16.30% from the company’s previous close.

Several other equities research analysts have also recently weighed in on SHAK. StockNews.com cut Shake Shack from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Truist Financial raised their price target on Shake Shack from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Raymond James lifted their price objective on shares of Shake Shack from $90.00 to $115.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 16th. Robert W. Baird increased their target price on shares of Shake Shack from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Finally, Oppenheimer lifted their price target on shares of Shake Shack from $108.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.33.

Shake Shack Stock Performance

NYSE SHAK opened at $107.48 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 2.01. Shake Shack has a 1-year low of $52.79 and a 1-year high of $110.90. The business has a 50 day simple moving average of $102.37 and a two-hundred day simple moving average of $80.42. The stock has a market capitalization of $4.55 billion, a PE ratio of 233.65, a P/E/G ratio of 3.72 and a beta of 1.78.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The firm had revenue of $290.50 million during the quarter, compared to analyst estimates of $291.00 million. During the same period last year, the firm posted ($0.01) earnings per share. Shake Shack’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, research analysts predict that Shake Shack will post 0.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other Shake Shack news, Director Daniel Harris Meyer sold 23,966 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the transaction, the director now owns 526,471 shares of the company’s stock, valued at approximately $52,715,541.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jeffrey Flug sold 304 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total transaction of $31,315.04. Following the completion of the sale, the director now owns 3,754 shares of the company’s stock, valued at $386,699.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Harris Meyer sold 23,966 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $100.13, for a total value of $2,399,715.58. Following the transaction, the director now owns 526,471 shares in the company, valued at $52,715,541.23. The disclosure for this sale can be found here. Insiders have sold 100,760 shares of company stock worth $10,190,420 in the last ninety days. 10.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Shake Shack

Several hedge funds have recently modified their holdings of SHAK. Allspring Global Investments Holdings LLC purchased a new stake in Shake Shack in the first quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new position in shares of Shake Shack during the 4th quarter valued at about $32,000. Ramirez Asset Management Inc. purchased a new position in Shake Shack during the third quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. lifted its holdings in Shake Shack by 122.6% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock valued at $65,000 after acquiring an additional 612 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Shake Shack in the 1st quarter worth approximately $97,000. Institutional investors and hedge funds own 86.07% 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.