Robert W. Baird Forecasts Strong Price Appreciation for Shake Shack (NYSE:SHAK) Stock

Shake Shack (NYSE:SHAK) had its price objective hoisted by equities research analysts at Robert W. Baird from $85.00 to $90.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price would suggest a potential downside of 4.77% from the company’s current price.

Several other equities analysts have also commented on the stock. Loop Capital raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a report on Tuesday, April 1st. Raymond James set a $145.00 price objective on shares of Shake Shack and gave the company a “strong-buy” rating in a research report on Wednesday, April 16th. Wedbush increased their target price on Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Stifel Nicolaus lowered their price target on shares of Shake Shack from $120.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. cut their target price on Shake Shack from $107.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $114.71.

Shake Shack Stock Performance

Shares of SHAK stock opened at $94.51 on Friday. Shake Shack has a 52 week low of $72.93 and a 52 week high of $139.89. 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 firm’s 50-day simple moving average is $89.28 and its two-hundred day simple moving average is $111.32. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 410.91 and a beta of 1.61.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $320.90 million during the quarter, compared to the consensus estimate of $330.24 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. As a group, equities analysts forecast that Shake Shack will post 1.26 earnings per share for the current year.

Institutional Trading of Shake Shack

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Shake Shack by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company’s stock valued at $574,497,000 after acquiring an additional 49,883 shares during the last quarter. Invesco Ltd. lifted its position in Shake Shack by 30.7% during the 4th quarter. Invesco Ltd. now owns 1,245,093 shares of the company’s stock worth $161,613,000 after acquiring an additional 292,348 shares during the period. Balyasny Asset Management L.P. grew its position in Shake Shack by 17.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company’s stock valued at $116,078,000 after buying an additional 134,475 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Shake Shack by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 760,595 shares of the company’s stock worth $98,726,000 after acquiring an additional 19,320 shares during the period. Finally, Wasatch Advisors LP increased its position in Shake Shack by 1.8% during the 4th quarter. Wasatch Advisors LP now owns 566,425 shares of the company’s stock worth $73,522,000 after purchasing an additional 10,147 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

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.