Shake Shack (NYSE:SHAK) PT Raised to $50.00 at Jefferies Financial Group

Shake Shack (NYSE:SHAK) had its price target raised by equities researchers at Jefferies Financial Group from $45.00 to $50.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 2.99% from the stock’s current price.

SHAK has been the subject of several other research reports. William Blair reissued a “buy” rating on shares of Shake Shack in a report on Tuesday, June 2nd. Deutsche Bank boosted their price objective on Shake Shack from $51.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. MKM Partners decreased their price objective on Shake Shack from $59.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, July 10th. Zacks Investment Research raised Shake Shack from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Wednesday, June 24th. Finally, BTIG Research began coverage on Shake Shack in a report on Monday, April 20th. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.18.

Shake Shack stock traded down $6.67 during trading hours on Friday, hitting $48.55. 5,904,516 shares of the stock traded hands, compared to its average volume of 1,208,739. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 1.15. The firm’s 50 day moving average price is $51.98 and its 200-day moving average price is $54.22. Shake Shack has a 1 year low of $30.01 and a 1 year high of $105.84.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.08). The firm had revenue of $91.79 million for the quarter, compared to analysts’ expectations of $93.29 million. Shake Shack had a negative net margin of 1.64% and a negative return on equity of 1.55%. Equities analysts anticipate that Shake Shack will post -0.61 EPS for the current year.

In other Shake Shack news, Director Robert T. Vivian sold 25,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $52.25, for a total transaction of $1,306,250.00. Following the completion of the transaction, the director now owns 10,312 shares of the company’s stock, valued at $538,802. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 100,000 shares of company stock valued at $5,441,250 in the last three months. Insiders own 14.98% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc raised its holdings in shares of Shake Shack by 1.2% during the first quarter. Legal & General Group Plc now owns 88,938 shares of the company’s stock valued at $3,356,000 after acquiring an additional 1,074 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of Shake Shack in the first quarter valued at approximately $203,000. Geode Capital Management LLC grew its position in shares of Shake Shack by 7.4% in the first quarter. Geode Capital Management LLC now owns 415,690 shares of the company’s stock valued at $15,688,000 after purchasing an additional 28,730 shares in the last quarter. Paloma Partners Management Co grew its position in shares of Shake Shack by 34.3% in the first quarter. Paloma Partners Management Co now owns 13,030 shares of the company’s stock valued at $492,000 after purchasing an additional 3,329 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Shake Shack by 48.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,623 shares of the company’s stock valued at $590,000 after purchasing an additional 5,096 shares in the last quarter. 80.91% of the stock is owned by institutional investors and hedge funds.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

Further Reading: Outperform Rating

The Fly

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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