Shake Shack (NYSE:SHAK) Price Target Raised to $166.00 at Barclays

Shake Shack (NYSE:SHAK) had its target price upped by Barclays from $102.00 to $166.00 in a report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also recently commented on SHAK. TD Cowen cut Shake Shack from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Monday, May 19th. TD Securities reiterated a “hold” rating and set a $105.00 price objective on shares of Shake Shack in a research report on Monday, May 19th. Wells Fargo & Company upped their price objective on Shake Shack from $95.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, May 30th. Truist Financial upped their price target on Shake Shack from $134.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Sanford C. Bernstein set a $166.00 price target on Shake Shack and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $123.95.

Shake Shack Stock Up 3.4%

Shake Shack stock opened at $138.46 on Thursday. The stock has a market cap of $5.91 billion, a PE ratio of 494.50, a price-to-earnings-growth ratio of 3.17 and a beta of 1.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91. Shake Shack has a one year low of $72.93 and a one year high of $140.97. The stock has a fifty day moving average of $114.37 and a 200 day moving average of $110.80.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The firm had revenue of $320.90 million for the quarter, compared to analysts’ expectations of $330.24 million. Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. As a group, sell-side analysts predict that Shake Shack will post 1.26 EPS for the current year.

Insider Transactions at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 3,956 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $127.49, for a total transaction of $504,350.44. Following the completion of the transaction, the chief financial officer now directly owns 35,750 shares of the company’s stock, valued at approximately $4,557,767.50. This represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $130.10, for a total value of $1,301,000.00. Following the transaction, the director now directly owns 396,636 shares of the company’s stock, valued at approximately $51,602,343.60. The trade was a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,698 shares of company stock valued at $4,499,820 over the last 90 days. Company insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Shake Shack by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company’s stock valued at $46,979,000 after buying an additional 8,429 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Shake Shack by 6.2% during the fourth quarter. Janus Henderson Group PLC now owns 17,064 shares of the company’s stock valued at $2,216,000 after buying an additional 1,000 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Shake Shack during the fourth quarter valued at approximately $260,000. GAMMA Investing LLC boosted its stake in Shake Shack by 13,353.1% during the first quarter. GAMMA Investing LLC now owns 99,015 shares of the company’s stock valued at $8,730,000 after buying an additional 98,279 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Shake Shack during the first quarter valued at approximately $1,167,000. 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.