Shake Shack (NYSE:SHAK) Now Covered by Wolfe Research

Wolfe Research started coverage on shares of Shake Shack (NYSE:SHAK) in a research note issued to investors on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $118.00 price objective on the stock.

Several other equities research analysts have also recently commented on the company. Zacks Research cut Shake Shack from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. upgraded shares of Shake Shack from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $95.00 to $90.00 in a research report on Thursday, December 18th. 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 note on Friday, February 27th. Jefferies Financial Group reissued a “hold” rating on shares of Shake Shack in a research note on Tuesday, November 25th. Finally, Robert W. Baird upped their price objective on shares of Shake Shack from $104.00 to $108.00 and gave the stock a “neutral” rating in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $116.64.

Shake Shack Stock Performance

NYSE SHAK opened at $95.78 on Monday. The company has a quick ratio of 1.73, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Shake Shack has a 52-week low of $72.93 and a 52-week high of $144.65. The business’s 50-day moving average price is $92.57 and its 200 day moving average price is $92.24. The firm has a market cap of $4.09 billion, a P/E ratio of 87.87, a P/E/G ratio of 4.99 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 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $402.06 million. During the same period in the prior year, the business earned $0.26 EPS. The firm’s revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts expect that Shake Shack will post 1.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHAK. Nordea Investment Management AB boosted its stake in shares of Shake Shack by 36.6% during the 3rd quarter. Nordea Investment Management AB now owns 106,317 shares of the company’s stock worth $9,851,000 after acquiring an additional 28,487 shares in the last quarter. Fisher Asset Management LLC increased its stake in Shake Shack by 30.4% in the 2nd quarter. Fisher Asset Management LLC now owns 514,770 shares of the company’s stock valued at $72,377,000 after purchasing an additional 120,030 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Shake Shack during the third quarter worth $8,416,000. Public Sector Pension Investment Board boosted its position in Shake Shack by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 156,998 shares of the company’s stock worth $14,697,000 after purchasing an additional 19,889 shares in the last quarter. Finally, CI Investments Inc. boosted its position in Shake Shack by 34.1% during the third quarter. CI Investments Inc. now owns 91,061 shares of the company’s stock worth $8,524,000 after purchasing an additional 23,133 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Shake Shack Company Profile

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.