Truist Financial Downgrades Shake Shack (NYSE:SHAK) to Hold

Shake Shack (NYSE:SHAK) was downgraded by Truist Financial from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on SHAK. Wells Fargo & Company dropped their price target on shares of Shake Shack from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Stifel Nicolaus dropped their target price on Shake Shack from $110.00 to $105.00 and set a “hold” rating on the stock in a research report on Friday, October 31st. UBS Group cut their price target on Shake Shack from $140.00 to $104.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Jefferies Financial Group reissued a “hold” rating on shares of Shake Shack in a research note on Tuesday, November 25th. Finally, Zacks Research downgraded Shake Shack from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $116.52.

Shake Shack Stock Performance

SHAK stock opened at $94.53 on Tuesday. The firm has a 50 day simple moving average of $87.51 and a 200 day simple moving average of $96.33. Shake Shack has a 52 week low of $72.93 and a 52 week high of $144.65. The stock has a market cap of $4.04 billion, a P/E ratio of 92.68, a P/E/G ratio of 2.86 and a beta of 1.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.84.

Insider Buying and Selling at Shake Shack

In related news, insider Stephanie Ann Sentell sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $85.14, for a total value of $93,654.00. Following the completion of the sale, the insider directly owned 9,907 shares in the company, valued at approximately $843,481.98. The trade was a 9.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 1,500 shares of company stock valued at $130,648. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Shake Shack

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new stake in Shake Shack during the first quarter valued at about $26,000. Assetmark Inc. boosted its stake in Shake Shack by 457.6% during the 4th quarter. Assetmark Inc. now owns 368 shares of the company’s stock valued at $30,000 after purchasing an additional 302 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Shake Shack in the 2nd quarter valued at approximately $31,000. Global Retirement Partners LLC grew its holdings in Shake Shack by 83.7% in the 3rd quarter. Global Retirement Partners LLC now owns 327 shares of the company’s stock valued at $31,000 after buying an additional 149 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp increased its position in Shake Shack by 68.5% in the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 418 shares of the company’s stock worth $38,000 after buying an additional 170 shares during the period. 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.