Shake Shack (NYSE:SHAK) Coverage Initiated by Analysts at BNP Paribas Exane

BNP Paribas Exane initiated coverage on shares of Shake Shack (NYSE:SHAK) in a research report report published on Monday, MarketBeat reports. The brokerage issued an outperform rating and a $124.00 price objective on the stock.

A number of other brokerages have also commented on SHAK. JPMorgan Chase & Co. raised Shake Shack from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $95.00 to $90.00 in a report on Thursday, December 18th. Morgan Stanley raised Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $115.00 to $125.00 in a report on Tuesday, January 20th. Truist Financial upped their price target on shares of Shake Shack from $144.00 to $148.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Raymond James Financial set a $140.00 price target on shares of Shake Shack in a research note on Wednesday, January 21st. Finally, Barclays dropped their price objective on shares of Shake Shack from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $116.96.

Shake Shack Stock Performance

Shares of SHAK stock opened at $83.43 on Monday. The stock has a market cap of $3.56 billion, a P/E ratio of 76.54, a P/E/G ratio of 4.38 and a beta of 1.73. 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 company has a fifty day moving average price of $91.72 and a two-hundred day moving average price of $90.67. Shake Shack has a one year low of $72.93 and a one year high of $144.65.

Shake Shack (NYSE:SHAK) last issued 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 company had revenue of $400.53 million for the quarter, compared to analysts’ expectations of $402.06 million. Shake Shack had a net margin of 3.16% and a return on equity of 11.08%. Shake Shack’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. As a group, equities analysts predict that Shake Shack will post 1.26 EPS for the current year.

Institutional Trading of Shake Shack

A number of institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB lifted its position in Shake Shack by 36.6% during the third quarter. Nordea Investment Management AB now owns 106,317 shares of the company’s stock worth $9,851,000 after purchasing an additional 28,487 shares during the period. Fisher Asset Management LLC increased its holdings 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 buying an additional 120,030 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Shake Shack in the 3rd quarter valued at about $8,416,000. Divisadero Street Capital Management LP raised its position in shares of Shake Shack by 407.8% in the 3rd quarter. Divisadero Street Capital Management LP now owns 56,985 shares of the company’s stock valued at $5,334,000 after buying an additional 45,762 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of Shake Shack by 14.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 156,998 shares of the company’s stock valued at $14,697,000 after buying an additional 19,889 shares in the last quarter. 86.07% of the stock is currently owned by 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.