Shake Shack (NYSE:SHAK) Hits New 1-Year High After Analyst Upgrade

Shake Shack Inc. (NYSE:SHAK)’s share price reached a new 52-week high during trading on Monday after BTIG Research raised their price target on the stock from $120.00 to $125.00. BTIG Research currently has a buy rating on the stock. Shake Shack traded as high as $111.29 and last traded at $109.09, with a volume of 388089 shares changing hands. The stock had previously closed at $107.47.

A number of other analysts have also issued reports on SHAK. Raymond James raised their price target on Shake Shack from $90.00 to $115.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. raised their price objective on Shake Shack from $65.00 to $100.00 and gave the stock an “underweight” rating in a report on Monday, March 4th. Truist Financial raised their price objective on Shake Shack from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Friday. Wedbush raised their target price on Shake Shack from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Friday. Finally, Barclays raised their target price on Shake Shack from $92.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Shake Shack has an average rating of “Hold” and a consensus target price of $98.24.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 23,966 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $100.13, for a total value of $2,399,715.58. Following the completion of the sale, the director now directly owns 526,471 shares of the company’s stock, valued at approximately $52,715,541.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Shake Shack news, Director Daniel Harris Meyer sold 23,966 shares of the company’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 completion of the sale, the director now directly owns 526,471 shares of the company’s stock, valued at $52,715,541.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $103.01, for a total transaction of $31,315.04. Following the sale, the director now directly owns 3,754 shares of the company’s stock, valued at $386,699.54. The disclosure for this sale can be found here. In the last three months, insiders sold 100,608 shares of company stock valued at $10,178,861. 10.06% of the stock is owned by insiders.

Institutional Trading of Shake Shack

A number of hedge funds have recently bought and sold shares of SHAK. 12 West Capital Management LP lifted its stake 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 buying an additional 748,789 shares in the last quarter. Linonia Partnership LP purchased a new stake in Shake Shack during the fourth quarter valued at about $41,046,000. Qube Research & Technologies Ltd increased its holdings in shares of Shake Shack by 130.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock valued at $25,370,000 after purchasing an additional 246,952 shares during the period. Van Berkom & Associates Inc. increased its holdings in shares of Shake Shack by 19.3% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company’s stock valued at $60,761,000 after purchasing an additional 168,947 shares during the period. Finally, Norges Bank acquired a new position in shares of Shake Shack in the 4th quarter valued at about $12,238,000. 86.07% of the stock is owned by hedge funds and other institutional investors.

Shake Shack Stock Down 1.7 %

The company has a market cap of $4.47 billion, a price-to-earnings ratio of 191.99, a P/E/G ratio of 3.79 and a beta of 1.78. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average price of $102.46 and a two-hundred day moving average price of $81.12.

Shake Shack (NYSE:SHAK) last issued 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. The company had revenue of $290.50 million for the quarter, compared to the consensus estimate of $291.00 million. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. On average, equities analysts predict that Shake Shack Inc. will post 0.72 earnings per share for the current year.

About Shake Shack

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.