JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Shake Shack (NYSE:SHAK) Stock

Shake Shack (NYSE:SHAK) had its price objective lifted by JPMorgan Chase & Co. from $95.00 to $100.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 3.23% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Guggenheim began coverage on Shake Shack in a research note on Friday. They set a “buy” rating and a $120.00 target price for the company. DA Davidson began coverage on Shake Shack in a research note on Friday, March 6th. They set a “buy” rating and a $125.00 target price for the company. Raymond James Financial set a $140.00 target price on Shake Shack in a research note on Wednesday, January 21st. Zacks Research upgraded Shake Shack from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Wolfe Research began coverage on Shake Shack in a research note on Monday, March 9th. They set an “outperform” rating and a $118.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.67.

Shake Shack Stock Up 5.9%

NYSE SHAK opened at $103.34 on Friday. The business has a fifty day moving average price of $93.59 and a two-hundred day moving average price of $90.83. 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 fifty-two week low of $76.51 and a fifty-two week high of $144.65. The stock has a market capitalization of $4.41 billion, a PE ratio of 94.81, a PEG ratio of 3.83 and a beta of 1.75.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, February 26th. The company reported $0.37 earnings per share for the quarter, topping 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 analysts’ expectations of $402.06 million. During the same period in the prior year, the company earned $0.26 earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis. Equities analysts expect that Shake Shack will post 1.39 earnings per share for the current fiscal year.

Insider Activity at Shake Shack

In other news, insider Stephanie Ann Sentell sold 258 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $102.21, for a total value of $26,370.18. Following the completion of the transaction, the insider directly owned 15,084 shares in the company, valued at approximately $1,541,735.64. This represents a 1.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SHAK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Shake Shack by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,627 shares of the company’s stock valued at $1,995,000 after acquiring an additional 976 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Shake Shack by 4,210.3% in the first quarter. Jones Financial Companies Lllp now owns 2,500 shares of the company’s stock valued at $220,000 after purchasing an additional 2,442 shares during the period. United Services Automobile Association acquired a new stake in Shake Shack in the first quarter valued at $219,000. Geneos Wealth Management Inc. acquired a new stake in Shake Shack in the first quarter valued at $26,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Shake Shack by 159.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 748 shares of the company’s stock valued at $105,000 after purchasing an additional 460 shares during the period. 86.07% of the stock is currently owned by institutional investors.

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.