Shake Shack (NYSE:SHAK) Sets New 52-Week High Following Analyst Upgrade

Shake Shack, Inc. (NYSE:SHAK) reached a new 52-week high on Thursday after Barclays raised their price target on the stock from $102.00 to $166.00. Barclays currently has an overweight rating on the stock. Shake Shack traded as high as $140.97 and last traded at $139.31, with a volume of 489677 shares. The stock had previously closed at $133.90.

A number of other equities analysts have also recently issued reports on SHAK. Sanford C. Bernstein set a $166.00 target price on Shake Shack and gave the stock an “overweight” rating in a report on Thursday. Raymond James Financial restated a “strong-buy” rating and set a $140.00 price target (down from $145.00) on shares of Shake Shack in a report on Friday, May 2nd. TD Cowen downgraded Shake Shack from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research note on Monday, May 19th. BTIG Research downgraded shares of Shake Shack from a “buy” rating to a “neutral” rating in a research report on Monday, June 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Shake Shack from $95.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.95.

Insiders Place Their Bets

In other news, CFO Katherine Irene Fogertey sold 562 shares of Shake Shack stock in a transaction on Friday, June 13th. The shares were sold at an average price of $124.84, for a total value of $70,160.08. Following the completion of the sale, the chief financial officer now owns 35,188 shares in the company, valued at $4,392,869.92. The trade was a 1.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $130.10, for a total transaction of $1,301,000.00. Following the transaction, the director now owns 396,636 shares in the company, valued at $51,602,343.60. The trade was a 2.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,698 shares of company stock worth $4,499,820. Company insiders own 9.73% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

A number of large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its holdings in 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 acquiring an additional 263 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Shake Shack in the 1st quarter worth approximately $26,000. Nemes Rush Group LLC bought a new stake in Shake Shack during the fourth quarter worth $29,000. Harvest Fund Management Co. Ltd bought a new position in Shake Shack in the 4th quarter valued at $32,000. Finally, Garde Capital Inc. purchased a new stake in shares of Shake Shack during the 1st quarter valued at $35,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Shake Shack Stock Up 3.4%

The stock has a 50 day moving average price of $114.37 and a 200 day moving average price of $110.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91. The company has a market capitalization of $5.91 billion, a P/E ratio of 494.50, a PEG ratio of 3.17 and a beta of 1.77.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. The company had revenue of $320.90 million during the quarter, compared to analysts’ expectations of $330.24 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. Equities research analysts forecast that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

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.