Shake Shack (NYSE:SHAK)‘s stock had its “equal weight” rating restated by analysts at Barclays in a report released on Tuesday, MarketBeat.com reports. They currently have a $49.00 target price on the stock, up from their prior target price of $36.00. Barclays’ price target suggests a potential upside of 12.98% from the stock’s previous close.
Several other research analysts have also recently commented on the stock. SunTrust Banks reiterated a “buy” rating and set a $48.00 price target on shares of Shake Shack in a report on Thursday, October 12th. BidaskClub upgraded shares of Shake Shack from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Morgan Stanley upgraded shares of Shake Shack from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $43.04 to $34.00 in a report on Thursday, December 7th. Cowen upped their target price on shares of Shake Shack from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, November 2nd. Finally, Jefferies Group cut shares of Shake Shack from a “hold” rating to an “underperform” rating and set a $36.00 target price for the company. in a report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $38.94.
Shake Shack (NYSE:SHAK) traded up $0.81 during midday trading on Tuesday, reaching $43.37. 254,305 shares of the company’s stock traded hands, compared to its average volume of 691,810. Shake Shack has a 12 month low of $30.12 and a 12 month high of $47.39. The firm has a market cap of $1,560.00 and a PE ratio of 69.95.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. Shake Shack had a net margin of 4.78% and a return on equity of 9.42%. The company had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $94.17 million. During the same quarter in the previous year, the business posted $0.15 EPS. The firm’s revenue was up 26.8% on a year-over-year basis. sell-side analysts expect that Shake Shack will post 0.52 EPS for the current year.
In related news, CEO Randall J. Garutti sold 8,000 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $35.62, for a total transaction of $284,960.00. Following the completion of the sale, the chief executive officer now owns 18,961 shares in the company, valued at approximately $675,390.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 45,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $36.27, for a total transaction of $1,632,150.00. Following the sale, the director now owns 642 shares of the company’s stock, valued at approximately $23,285.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,058,737 shares of company stock valued at $43,750,477. Company insiders own 34.91% of the company’s stock.
Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its stake in Shake Shack by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,371 shares of the company’s stock worth $152,000 after purchasing an additional 656 shares during the period. Cipher Capital LP acquired a new stake in Shake Shack during the 3rd quarter worth $211,000. Municipal Employees Retirement System of Michigan boosted its stake in Shake Shack by 58.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,960 shares of the company’s stock worth $231,000 after purchasing an additional 2,580 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in Shake Shack during the 2nd quarter worth $247,000. Finally, Voya Investment Management LLC boosted its stake in Shake Shack by 46.3% during the 2nd quarter. Voya Investment Management LLC now owns 9,277 shares of the company’s stock worth $324,000 after purchasing an additional 2,934 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.
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About Shake Shack
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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