Shake Shack (NYSE:SHAK) Coverage Initiated at DA Davidson

Stock analysts at DA Davidson initiated coverage on shares of Shake Shack (NYSE:SHAK) in a research note issued on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $125.00 price target on the stock. DA Davidson’s target price would suggest a potential upside of 33.60% from the stock’s previous close.

Several other brokerages also recently issued reports on SHAK. Deutsche Bank Aktiengesellschaft upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Tuesday, January 6th. Loop Capital upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and upped their target price for the company from $98.00 to $127.00 in a report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shake Shack in a research note on Wednesday, January 21st. Zacks Research downgraded shares of Shake Shack from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Shake Shack from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.57.

Shake Shack Trading Down 3.3%

Shares of SHAK opened at $93.56 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.73. Shake Shack has a 1-year low of $72.93 and a 1-year high of $144.65. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 85.83, a price-to-earnings-growth ratio of 4.99 and a beta of 1.73. The firm has a 50 day simple moving average of $92.30 and a 200-day simple moving average of $92.35.

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

Hedge Funds Weigh In On Shake Shack

Large investors have recently bought and sold shares of the stock. Swedbank AB purchased a new stake in shares of Shake Shack during the 4th quarter valued at $84,092,000. Holocene Advisors LP purchased a new position in shares of Shake Shack in the 2nd quarter worth $115,432,000. Adage Capital Partners GP L.L.C. acquired a new position in Shake Shack in the fourth quarter valued at $40,829,000. Wellington Management Group LLP grew its position in Shake Shack by 21.0% during the third quarter. Wellington Management Group LLP now owns 2,590,911 shares of the company’s stock valued at $242,535,000 after acquiring an additional 450,406 shares during the period. Finally, Marshall Wace LLP grew its position in Shake Shack by 285.2% during the third quarter. Marshall Wace LLP now owns 586,999 shares of the company’s stock valued at $54,949,000 after acquiring an additional 434,625 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

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.