Barclays Cuts Shake Shack (NYSE:SHAK) Price Target to $160.00

Shake Shack (NYSE:SHAK) had its price target lowered by Barclays from $168.00 to $160.00 in a research note issued to investors on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on SHAK. Wells Fargo & Company increased their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Loop Capital reissued a “hold” rating and set a $127.00 price objective on shares of Shake Shack in a research report on Tuesday, July 8th. Stifel Nicolaus lowered their price objective 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. Robert W. Baird increased their price objective on shares of Shake Shack from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Finally, Truist Financial increased their price objective on shares of Shake Shack from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $131.29.

Shake Shack Trading Down 7.0%

SHAK opened at $111.88 on Friday. The firm’s fifty day moving average is $132.67 and its two-hundred day moving average is $111.82. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.89 and a current ratio of 1.92. The firm has a market cap of $4.77 billion, a PE ratio of 243.22, a price-to-earnings-growth ratio of 2.55 and a beta of 1.82. Shake Shack has a twelve month low of $72.93 and a twelve month high of $144.65.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, July 31st. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. Shake Shack had a net margin of 1.50% and a return on equity of 9.78%. The company had revenue of $356.47 million for the quarter, compared to analyst estimates of $352.56 million. During the same period last year, the business posted $0.27 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts anticipate that Shake Shack will post 1.26 EPS for the current year.

Insider Transactions at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 3,956 shares of Shake Shack stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $127.49, for a total value of $504,350.44. Following the completion of the transaction, the chief financial officer owned 35,750 shares of the company’s stock, valued at $4,557,767.50. This trade represents a 9.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Harris Meyer sold 20,000 shares of Shake Shack stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $140.07, for a total transaction of $2,801,400.00. Following the completion of the transaction, the director directly owned 367,984 shares of the company’s stock, valued at approximately $51,543,518.88. This trade represents a 5.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 87,391 shares of company stock valued at $11,869,925. Insiders own 9.73% of the company’s stock.

Institutional Trading of Shake Shack

A number of hedge funds have recently modified their holdings of SHAK. Driehaus Capital Management LLC acquired a new stake in shares of Shake Shack during the 4th quarter worth about $66,349,000. Nuveen LLC acquired a new stake in shares of Shake Shack during the 1st quarter worth about $42,802,000. Ameriprise Financial Inc. lifted its stake in shares of Shake Shack by 144.3% during the 1st quarter. Ameriprise Financial Inc. now owns 791,857 shares of the company’s stock worth $69,805,000 after buying an additional 467,748 shares during the last quarter. Invesco Ltd. lifted its stake in shares of 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 buying an additional 292,348 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Shake Shack by 57.1% during the 2nd quarter. Jennison Associates LLC now owns 593,971 shares of the company’s stock worth $83,512,000 after buying an additional 215,984 shares during the last quarter. Institutional investors and hedge funds 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.