Shake Shack, Inc. (NYSE:SHAK) Receives Average Rating of “Hold” from Analysts

Shake Shack, Inc. (NYSE:SHAK) has received an average rating of “Hold” from the twenty-three analysts that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $131.2857.

Several brokerages recently issued reports on SHAK. Jefferies Financial Group cut shares of Shake Shack from a “hold” rating to an “underperform” rating and raised their target price for the stock from $100.00 to $120.00 in a report on Thursday, July 17th. Loop Capital restated a “hold” rating and issued a $127.00 target price on shares of Shake Shack in a report on Tuesday, July 8th. Stifel Nicolaus dropped 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 note on Tuesday, April 15th. TD Securities reiterated a “hold” rating and set a $105.00 price target on shares of Shake Shack in a research note on Thursday, June 26th. Finally, BTIG Research cut shares of Shake Shack from a “buy” rating to a “neutral” rating in a research note on Monday, June 2nd.

Shake Shack Stock Down 0.9%

SHAK opened at $113.07 on Thursday. The stock has a market cap of $4.82 billion, a PE ratio of 245.81, a P/E/G ratio of 2.59 and a beta of 1.82. The company has a quick ratio of 1.89, a current ratio of 1.92 and a debt-to-equity ratio of 0.48. Shake Shack has a 52 week low of $72.93 and a 52 week high of $144.65. The business’s fifty day simple moving average is $132.12 and its 200 day simple moving average is $111.85.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, July 31st. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. Shake Shack had a return on equity of 9.78% and a net margin of 1.50%. The business had revenue of $356.47 million for the quarter, compared to analysts’ expectations of $352.56 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. As a group, research analysts expect that Shake Shack will post 1.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Katherine Irene Fogertey sold 3,956 shares of the company’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $127.49, for a total value of $504,350.44. Following the sale, the chief financial officer directly owned 35,750 shares of the company’s stock, valued at $4,557,767.50. This represents a 9.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Harris Meyer sold 20,000 shares of the company’s stock in a transaction on 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 sale, the director directly owned 367,984 shares in the company, valued at $51,543,518.88. This trade represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,391 shares of company stock worth $11,869,925 in the last 90 days. 9.73% of the stock is currently owned by company insiders.

Institutional Trading of Shake Shack

A number of hedge funds have recently added to or reduced their stakes in the company. Summit Financial LLC lifted its holdings in Shake Shack by 0.7% during the first quarter. Summit Financial LLC now owns 13,180 shares of the company’s stock valued at $1,162,000 after purchasing an additional 97 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Shake Shack by 5.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company’s stock valued at $243,000 after purchasing an additional 100 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in Shake Shack by 0.8% during the second quarter. Wealthcare Advisory Partners LLC now owns 13,512 shares of the company’s stock valued at $1,900,000 after purchasing an additional 106 shares in the last quarter. Keybank National Association OH lifted its holdings in Shake Shack by 1.8% during the second quarter. Keybank National Association OH now owns 6,079 shares of the company’s stock valued at $855,000 after purchasing an additional 106 shares in the last quarter. Finally, Redwood Investments LLC lifted its holdings in Shake Shack by 0.5% during the first quarter. Redwood Investments LLC now owns 23,231 shares of the company’s stock valued at $2,048,000 after purchasing an additional 110 shares in the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

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.