Shake Shack (NYSE:SHAK) Raised to Outperform at Mizuho

Shake Shack (NYSE:SHAK) was upgraded by stock analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a $120.00 price objective on the stock, up from their prior price objective of $100.00. Mizuho’s price target suggests a potential upside of 21.62% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft raised 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shake Shack in a report on Wednesday, January 21st. Truist Financial lifted their price target on shares of Shake Shack from $144.00 to $148.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Wells Fargo & Company lifted their price target on shares of Shake Shack from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Finally, DA Davidson initiated coverage on shares of Shake Shack in a report on Friday, March 6th. They issued a “buy” rating and a $125.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, Shake Shack presently has an average rating of “Moderate Buy” and an average target price of $118.70.

Shake Shack Stock Performance

Shares of NYSE:SHAK opened at $98.67 on Friday. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 90.52, a price-to-earnings-growth ratio of 3.96 and a beta of 1.75. Shake Shack has a 52 week low of $76.51 and a 52 week high of $144.65. The company has a quick ratio of 1.73, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $92.09 and a 200 day moving average of $90.32.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Corient Private Wealth LLC raised its position in shares of Shake Shack by 216.9% in the fourth quarter. Corient Private Wealth LLC now owns 13,076 shares of the company’s stock worth $1,061,000 after acquiring an additional 8,950 shares during the period. Alberta Investment Management Corp acquired a new position in shares of Shake Shack in the fourth quarter worth about $1,201,000. Empowered Funds LLC acquired a new position in shares of Shake Shack in the fourth quarter worth about $100,000. XTX Topco Ltd lifted its holdings in Shake Shack by 1,485.4% during the fourth quarter. XTX Topco Ltd now owns 39,745 shares of the company’s stock valued at $3,226,000 after purchasing an additional 37,238 shares in the last quarter. Finally, Susquehanna Portfolio Strategies LLC lifted its holdings in Shake Shack by 53.5% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 99,778 shares of the company’s stock valued at $8,099,000 after purchasing an additional 34,776 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

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.