Shake Shack (NYSE:SHAK) Earns Strong-Buy Rating from Raymond James

Shake Shack (NYSE:SHAK)‘s stock had its “strong-buy” rating reaffirmed by investment analysts at Raymond James in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $140.00 target price on the stock, down from their previous target price of $145.00. Raymond James’ price target would suggest a potential upside of 48.13% from the stock’s current price.

SHAK has been the topic of a number of other research reports. Truist Financial dropped their price objective on shares of Shake Shack from $154.00 to $131.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus reduced their price target on shares of Shake Shack from $120.00 to $97.00 and set a “hold” rating on the stock in a research report on Tuesday, April 15th. Oppenheimer lowered their price objective on Shake Shack from $155.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company started coverage on Shake Shack in a research report on Wednesday, March 26th. They set an “equal weight” rating and a $95.00 price objective for the company. Finally, Barclays lowered their target price on shares of Shake Shack from $155.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. 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 issued a strong buy rating to the company. According to MarketBeat.com, Shake Shack presently has a consensus rating of “Moderate Buy” and an average target price of $114.71.

Shake Shack Trading Up 6.5 %

NYSE:SHAK opened at $94.51 on Friday. The firm has a market cap of $4.02 billion, a P/E ratio of 410.91 and a beta of 1.61. Shake Shack has a 12-month low of $72.93 and a 12-month high of $139.89. The stock’s 50 day simple moving average is $89.28 and its 200-day simple moving average is $111.32. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50.

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

Hedge Funds Weigh In On Shake Shack

A number of large investors have recently made changes to their positions in SHAK. Farther Finance Advisors LLC increased its position in shares of Shake Shack by 939.3% in the first quarter. Farther Finance Advisors LLC now owns 291 shares of the company’s stock worth $26,000 after purchasing an additional 263 shares during the period. Nemes Rush Group LLC bought a new position in Shake Shack in the fourth quarter valued at about $29,000. Harvest Fund Management Co. Ltd acquired a new stake in Shake Shack during the 4th quarter worth approximately $32,000. Garde Capital Inc. bought a new stake in shares of Shake Shack in the first quarter worth $35,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Shake Shack in the first quarter valued at about $44,000. Institutional investors 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.