Shake Shack (NYSE:SHAK) Stock Rating Upgraded by Gordon Haskett

Shake Shack (NYSE:SHAK) was upgraded by analysts at Gordon Haskett from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $154.00 target price on the stock. Gordon Haskett’s target price indicates a potential upside of 16.24% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Truist Financial lifted their price target on shares of Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Oppenheimer boosted their target price on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday. UBS Group increased their price target on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $125.00 to $159.00 in a research report on Tuesday. Finally, TD Cowen reiterated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $122.47.

Shake Shack Stock Performance

NYSE SHAK opened at $132.49 on Wednesday. The firm’s 50 day simple moving average is $129.61 and its 200 day simple moving average is $109.57. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 779.35, a P/E/G ratio of 2.83 and a beta of 1.86. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. Shake Shack has a 1 year low of $64.16 and a 1 year high of $139.89.

Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The firm had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. During the same quarter last year, the business posted $0.17 EPS. The company’s revenue was up 14.7% compared to the same quarter last year. As a group, research analysts expect that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insider Activity

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the sale, the chief financial officer now directly owns 30,717 shares in the company, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the transaction, the director now owns 407,646 shares in the company, valued at $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,333 shares of company stock valued at $6,566,330. 9.73% of the stock is currently owned by insiders.

Institutional Trading of Shake Shack

Hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC grew its holdings in Shake Shack by 303.3% in the second quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock worth $1,460,000 after purchasing an additional 12,487 shares during the period. Fisher Asset Management LLC grew its stake in shares of Shake Shack by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock valued at $36,548,000 after buying an additional 16,097 shares during the period. GDS Wealth Management bought a new stake in Shake Shack in the 3rd quarter valued at about $417,000. Charles Schwab Investment Management Inc. raised its stake in Shake Shack by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 353,501 shares of the company’s stock worth $36,485,000 after buying an additional 24,813 shares during the period. Finally, FMR LLC boosted its holdings in Shake Shack by 3.6% in the third quarter. FMR LLC now owns 243,549 shares of the company’s stock worth $25,137,000 after acquiring an additional 8,512 shares in the last quarter. Institutional investors own 86.07% 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, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.