Shake Shack Inc. (SHAK) Given Hold Rating at JPMorgan Chase & Co.
JPMorgan Chase & Co. restated their hold rating on shares of Shake Shack Inc. (NYSE:SHAK) in a research report report published on Wednesday morning. They currently have a $38.00 price target on the stock.
Other research analysts have also issued research reports about the stock. Wedbush reaffirmed an underperform rating and issued a $30.00 target price on shares of Shake Shack in a research note on Thursday, August 11th. SunTrust Banks Inc. raised shares of Shake Shack from a neutral rating to a buy rating and raised their target price for the company from $40.87 to $48.00 in a research note on Thursday, August 11th. Zacks Investment Research raised shares of Shake Shack from a hold rating to a buy rating and set a $46.00 target price on the stock in a research note on Saturday, July 23rd. Vetr lowered shares of Shake Shack from a hold rating to a sell rating and set a $37.50 target price on the stock. in a research note on Wednesday, July 20th. Finally, Jefferies Group reaffirmed a hold rating and issued a $36.00 target price (down previously from $38.00) on shares of Shake Shack in a research note on Thursday, August 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Shake Shack currently has a consensus rating of Hold and a consensus target price of $40.56.
Shake Shack (NYSE:SHAK) traded down 0.54% during midday trading on Wednesday, hitting $35.10. 58,210 shares of the stock traded hands. Shake Shack has a 1-year low of $30.00 and a 1-year high of $53.50. The stock has a market cap of $840.75 million, a PE ratio of 86.67 and a beta of 1.15. The company has a 50-day moving average of $35.72 and a 200-day moving average of $36.49.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Shake Shack had a net margin of 3.35% and a return on equity of 8.09%. The firm had revenue of $66.50 million for the quarter, compared to analyst estimates of $63.07 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The company’s revenue was up 37.1% on a year-over-year basis. On average, equities analysts expect that Shake Shack will post $0.45 EPS for the current fiscal year.
In other Shake Shack news, major shareholder Laura J. Sloate sold 2,500 shares of Shake Shack stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $42.35, for a total transaction of $105,875.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $423,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey Flug sold 5,000 shares of Shake Shack stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $40.01, for a total transaction of $200,050.00. Following the transaction, the director now directly owns 33,240 shares of the company’s stock, valued at $1,329,932.40. The disclosure for this sale can be found here. 44.69% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in SHAK. Lord Abbett & CO. LLC boosted its position in Shake Shack by 223.7% in the second quarter. Lord Abbett & CO. LLC now owns 1,061,520 shares of the company’s stock worth $38,671,000 after buying an additional 733,625 shares during the period. Vanguard Group Inc. boosted its position in Shake Shack by 270.0% in the second quarter. Vanguard Group Inc. now owns 937,625 shares of the company’s stock worth $34,157,000 after buying an additional 684,234 shares during the period. Granite Point Capital Management L.P. bought a new position in Shake Shack during the second quarter worth approximately $10,929,000. Gilder Gagnon Howe & Co. LLC boosted its position in Shake Shack by 20.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,720,760 shares of the company’s stock worth $62,687,000 after buying an additional 294,113 shares during the period. Finally, Blair William & Co. IL boosted its position in Shake Shack by 111.6% in the second quarter. Blair William & Co. IL now owns 489,933 shares of the company’s stock worth $17,848,000 after buying an additional 258,341 shares during the period. 93.41% of the stock is owned by hedge funds and other institutional investors.
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 has approximately 84 Shacks in over 10 countries and approximately 45 cities. 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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