Truist Financial Forecasts Strong Price Appreciation for Shake Shack (NYSE:SHAK) Stock

Shake Shack (NYSE:SHAK) had its target price increased by stock analysts at Truist Financial from $134.00 to $140.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 17.42% from the company’s current price.

A number of other research firms also recently weighed in on SHAK. UBS Group decreased their price target on shares of Shake Shack from $140.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Stifel Nicolaus cut their target price on shares of Shake Shack from $120.00 to $97.00 and set a “hold” rating on the stock in a research note on Tuesday, April 15th. Barclays cut their price objective on Shake Shack from $155.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Loop Capital upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a research report on Tuesday, April 1st. Finally, Wedbush upped their price target on Shake Shack from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.40.

Shake Shack Trading Up 1.8%

Shares of SHAK opened at $119.23 on Thursday. Shake Shack has a twelve month low of $72.93 and a twelve month high of $139.89. The firm has a market capitalization of $5.07 billion, a P/E ratio of 518.39 and a beta of 1.61. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $91.21 and its 200 day simple moving average is $111.18.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data 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). Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. The business had revenue of $320.90 million for the quarter, compared to analysts’ expectations of $330.24 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Shake Shack’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Shake Shack will post 1.26 earnings per share for the current year.

Hedge Funds Weigh In On Shake Shack

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its holdings in shares of Shake Shack by 939.3% during the first quarter. Farther Finance Advisors LLC now owns 291 shares of the company’s stock valued at $26,000 after buying an additional 263 shares in the last quarter. Nemes Rush Group LLC purchased a new position in Shake Shack during the 4th quarter valued at about $29,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Shake Shack in the 4th quarter valued at about $32,000. Garde Capital Inc. purchased a new stake in shares of Shake Shack in the first quarter worth approximately $35,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Shake Shack during the first quarter worth approximately $44,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.