Truist Financial Issues Pessimistic Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its price objective lowered by Truist Financial from $154.00 to $131.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 48.49% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Shake Shack from $98.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus cut their price objective on Shake Shack from $120.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th. TD Securities reissued a “buy” rating and set a $140.00 price target on shares of Shake Shack in a research note on Friday, February 21st. Finally, Wells Fargo & Company began coverage on Shake Shack in a research note on Wednesday, March 26th. They issued an “equal weight” rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.29.

Shake Shack Trading Up 3.4 %

Shares of SHAK stock opened at $88.22 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97. The stock has a fifty day simple moving average of $92.58 and a two-hundred day simple moving average of $112.21. The firm has a market capitalization of $3.75 billion, a PE ratio of 383.57 and a beta of 1.80. Shake Shack has a 52-week low of $72.93 and a 52-week high of $139.89.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01. The firm had revenue of $328.68 million during the quarter, compared to analysts’ expectations of $329.02 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. On average, analysts predict that Shake Shack will post 1.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Shake Shack

Institutional investors and hedge funds have recently modified their holdings of the business. Driehaus Capital Management LLC purchased a new stake in Shake Shack in the fourth quarter worth $66,349,000. Invesco Ltd. lifted its holdings in Shake Shack by 30.7% during the 4th quarter. Invesco Ltd. now owns 1,245,093 shares of the company’s stock valued at $161,613,000 after buying an additional 292,348 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Shake Shack by 204.0% in the 4th quarter. Ameriprise Financial Inc. now owns 324,109 shares of the company’s stock valued at $42,064,000 after buying an additional 217,493 shares during the period. Cookson Peirce & Co. Inc. bought a new position in Shake Shack in the 4th quarter worth about $26,756,000. Finally, Balyasny Asset Management L.P. increased its position in shares of Shake Shack by 17.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company’s stock worth $116,078,000 after acquiring an additional 134,475 shares during the period. 86.07% of the stock is owned by institutional investors.

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.