Shake Shack (NYSE:SHAK) PT Raised to $53.00 at Wedbush

Shake Shack (NYSE:SHAK) had its price target lifted by equities research analysts at Wedbush from $50.00 to $53.00 in a research note issued on Friday, AnalystRatings.com reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price objective indicates a potential upside of 9.17% from the stock’s current price.

A number of other brokerages also recently issued reports on SHAK. JPMorgan Chase & Co. increased their price target on shares of Shake Shack from $47.00 to $51.00 and gave the stock an “underweight” rating in a report on Wednesday, June 24th. SunTrust Banks increased their price target on shares of Shake Shack from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Tuesday, May 5th. BTIG Research assumed coverage on shares of Shake Shack in a report on Monday, April 20th. They issued a “neutral” rating on the stock. Barclays lowered their price target on shares of Shake Shack from $60.00 to $49.00 in a report on Tuesday, May 5th. Finally, CSFB increased their price target on shares of Shake Shack from $40.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $57.18.

NYSE SHAK traded down $6.67 during trading on Friday, hitting $48.55. 5,904,516 shares of the company’s stock traded hands, compared to its average volume of 1,208,739. Shake Shack has a 12-month low of $30.01 and a 12-month high of $105.84. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.12 and a quick ratio of 1.10. The business has a 50 day moving average of $51.98 and a 200-day moving average of $54.22.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.45) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.08). The business 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%. Research analysts predict that Shake Shack will post -0.61 earnings per share for the current year.

In other Shake Shack news, Director Daniel Harris Meyer sold 25,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $55.15, for a total transaction of $1,378,750.00. Following the transaction, the director now directly owns 380 shares in the company, valued at $20,957. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 100,000 shares of company stock worth $5,441,250 over the last quarter. Company insiders own 14.98% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio bought a new position in Shake Shack during the second quarter valued at approximately $47,000. Advisor Group Inc. lifted its position in Shake Shack by 92.1% during the fourth quarter. Advisor Group Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after buying an additional 528 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Shake Shack by 25.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 1,382 shares of the company’s stock worth $52,000 after purchasing an additional 279 shares during the last quarter. Cornerstone Advisors Inc. purchased a new position in shares of Shake Shack in the 2nd quarter worth about $75,000. Finally, Truvestments Capital LLC bought a new stake in Shake Shack in the 1st quarter worth about $55,000. Institutional investors and hedge funds own 80.91% of the company’s stock.

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.

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Analyst Recommendations for Shake Shack (NYSE:SHAK)

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