Shake Shack (NYSE:SHAK) Upgraded at Zacks Research

Zacks Research upgraded shares of Shake Shack (NYSE:SHAK) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company increased their price objective on Shake Shack from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Robert W. Baird lifted their target price on Shake Shack from $104.00 to $108.00 and gave the stock a “neutral” rating in a report on Friday, February 27th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Shake Shack in a research report on Tuesday, November 25th. Wolfe Research began coverage on Shake Shack in a report on Monday. They set an “outperform” rating and a $118.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Shake Shack in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $116.64.

Shake Shack Stock Performance

Shares of SHAK opened at $92.54 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.73. The firm’s 50 day moving average is $93.11 and its 200-day moving average is $92.19. Shake Shack has a 12-month low of $72.93 and a 12-month high of $144.65. The stock has a market capitalization of $3.95 billion, a P/E ratio of 84.90, a P/E/G ratio of 5.10 and a beta of 1.73.

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

Hedge Funds Weigh In On Shake Shack

A number of large investors have recently made changes to their positions in SHAK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Shake Shack by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,627 shares of the company’s stock worth $1,995,000 after purchasing an additional 976 shares during the period. Jones Financial Companies Lllp increased its stake in Shake Shack by 4,210.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,500 shares of the company’s stock valued at $220,000 after buying an additional 2,442 shares during the period. United Services Automobile Association acquired a new position in Shake Shack in the 1st quarter valued at approximately $219,000. Geneos Wealth Management Inc. purchased a new stake in Shake Shack in the 1st quarter worth approximately $26,000. Finally, Bank of Montreal Can boosted its stake in shares of Shake Shack by 167.4% during the 2nd quarter. Bank of Montreal Can now owns 25,826 shares of the company’s stock valued at $3,631,000 after buying an additional 16,169 shares during the period. Institutional investors and hedge funds 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.