TD Cowen Reiterates Buy Rating for Shake Shack (NYSE:SHAK)

Shake Shack (NYSE:SHAKGet Free Report)‘s stock had its “buy” rating restated by equities researchers at TD Cowen in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $125.00 price objective on the stock. TD Cowen’s target price would suggest a potential upside of 31.73% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. UBS Group raised their price target on shares of Shake Shack from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Morgan Stanley lifted their target price on shares of Shake Shack from $88.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Robert W. Baird lifted their target price on shares of Shake Shack from $102.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Oppenheimer lifted their target price on shares of Shake Shack from $108.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Wedbush lifted their target price on shares of Shake Shack from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $98.35.

Check Out Our Latest Stock Analysis on Shake Shack

Shake Shack Price Performance

SHAK stock opened at $94.89 on Friday. The firm has a 50 day moving average price of $100.64 and a 200-day moving average price of $86.68. Shake Shack has a 52-week low of $52.79 and a 52-week high of $111.29. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 172.53, a PEG ratio of 3.73 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.99 and a current ratio of 2.03.

Shake Shack (NYSE:SHAKGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $290.50 million during the quarter, compared to the consensus estimate of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) earnings per share. Equities research analysts forecast that Shake Shack will post 0.74 EPS for the current fiscal year.

Insider Activity at Shake Shack

In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $108.05, for a total value of $32,847.20. Following the transaction, the director now directly owns 4,058 shares in the company, valued at approximately $438,466.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Shake Shack

A number of hedge funds have recently added to or reduced their stakes in SHAK. 12 West Capital Management LP grew its stake in Shake Shack by 82.2% in the 3rd quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock worth $96,373,000 after acquiring an additional 748,789 shares in the last quarter. Linonia Partnership LP purchased a new stake in shares of Shake Shack in the 4th quarter worth approximately $41,046,000. Qube Research & Technologies Ltd lifted its position 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 worth $25,370,000 after purchasing an additional 246,952 shares during the period. Norges Bank purchased a new stake in shares of Shake Shack in the 4th quarter worth approximately $12,238,000. Finally, Jennison Associates LLC purchased a new stake in shares of Shake Shack in the 1st quarter worth approximately $16,365,000. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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