Shake Shack (NYSE:SHAK) Earns Buy Rating from Analysts at Loop Capital

Investment analysts at Loop Capital assumed coverage on shares of Shake Shack (NYSE:SHAK) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set a “buy” rating on the stock.

A number of other analysts have also issued reports on the company. Credit Suisse Group lifted their target price on Shake Shack from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. upped their target price on Shake Shack from $47.00 to $51.00 and gave the company an “underweight” rating in a research report on Wednesday, June 24th. Jefferies Financial Group increased their target price on Shake Shack from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Truist boosted their price objective on Shake Shack from $51.00 to $58.00 in a report on Tuesday, September 22nd. Finally, Piper Sandler raised their price target on shares of Shake Shack from $60.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 14th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. Shake Shack has an average rating of “Hold” and an average price target of $57.94.

NYSE:SHAK traded up $0.39 during trading hours on Thursday, hitting $64.87. The stock had a trading volume of 1,086,696 shares, compared to its average volume of 1,844,519. The company has a market cap of $2.67 billion, a PE ratio of -308.90 and a beta of 1.72. The business has a 50 day simple moving average of $63.61 and a two-hundred day simple moving average of $52.61. Shake Shack has a 1-year low of $30.01 and a 1-year high of $95.79.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, July 30th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.08). Shake Shack had a negative net margin of 1.64% and a negative return on equity of 1.40%. The firm had revenue of $91.79 million during the quarter, compared to analysts’ expectations of $93.29 million. As a group, equities research analysts expect that Shake Shack will post -0.77 earnings per share for the current fiscal year.

In other news, Director Daniel Harris Meyer sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $70.63, for a total transaction of $1,765,750.00. Following the completion of the sale, the director now owns 1,364 shares in the company, valued at approximately $96,339.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Tara Comonte sold 8,957 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $66.14, for a total value of $592,415.98. Following the transaction, the chief financial officer now directly owns 63,217 shares in the company, valued at approximately $4,181,172.38. The disclosure for this sale can be found here. Insiders have sold 161,942 shares of company stock worth $10,357,726 over the last ninety days. 14.98% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Magnus Financial Group LLC boosted its holdings in shares of Shake Shack by 3.6% during the 2nd quarter. Magnus Financial Group LLC now owns 7,393 shares of the company’s stock worth $392,000 after buying an additional 256 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Shake Shack by 25.3% during the first quarter. Mutual of America Capital Management LLC now owns 1,382 shares of the company’s stock valued at $52,000 after acquiring an additional 279 shares during the period. Amalgamated Bank grew its position in shares of Shake Shack by 10.1% in the second quarter. Amalgamated Bank now owns 5,924 shares of the company’s stock valued at $314,000 after purchasing an additional 542 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Shake Shack by 21.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,100 shares of the company’s stock worth $164,000 after purchasing an additional 551 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Shake Shack by 18.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,865 shares of the company’s stock valued at $205,000 after purchasing an additional 605 shares during the period. Institutional investors own 92.25% of the company’s stock.

Shake Shack Company Profile

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.

See Also: Depreciation

The Fly

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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