Truist Financial Boosts Shake Shack (NYSE:SHAK) Price Target to $148.00

Shake Shack (NYSE:SHAK) had its price target upped by investment analysts at Truist Financial from $144.00 to $148.00 in a research note issued on Monday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 53.67% from the company’s previous close.

A number of other equities research analysts have also weighed in on SHAK. Zacks Research lowered Shake Shack from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Jefferies Financial Group reiterated a “hold” rating on shares of Shake Shack in a research note on Tuesday, November 25th. Wells Fargo & Company boosted their target price on shares of Shake Shack from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Morgan Stanley raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $115.00 to $125.00 in a report on Tuesday, January 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $116.15.

Shake Shack Stock Performance

Shares of SHAK stock opened at $96.31 on Monday. Shake Shack has a 12-month low of $72.93 and a 12-month high of $144.65. The business’s fifty day simple moving average is $91.57 and its 200-day simple moving average is $92.44. The company has a current ratio of 1.76, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.11 billion, a PE ratio of 88.36, a PEG ratio of 4.24 and a beta of 1.73.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Shake Shack had a return on equity of 11.08% and a net margin of 3.16%.The firm had revenue of $400.53 million during the quarter, compared to analysts’ expectations of $402.06 million. During the same quarter last year, the firm earned $0.26 EPS. The business’s quarterly revenue was up 21.8% on a year-over-year basis. Analysts expect that Shake Shack will post 1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shake Shack

Several hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. purchased a new position in shares of Shake Shack during the 1st quarter valued at about $26,000. Hilton Head Capital Partners LLC acquired a new stake in Shake Shack during the fourth quarter worth about $25,000. Global Retirement Partners LLC raised its position in Shake Shack by 83.7% during the third quarter. Global Retirement Partners LLC now owns 327 shares of the company’s stock valued at $31,000 after acquiring an additional 149 shares in the last quarter. Assetmark Inc. raised its position in Shake Shack by 457.6% during the fourth quarter. Assetmark Inc. now owns 368 shares of the company’s stock valued at $30,000 after acquiring an additional 302 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Shake Shack by 42.2% in the fourth quarter. UMB Bank n.a. now owns 391 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the period. 86.07% of the stock is owned by hedge funds and other institutional investors.

About Shake Shack

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.