Shake Shack Inc. (SHAK) Stock Rating Upgraded by Zacks Investment Research
Shake Shack Inc. (NYSE:SHAK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $38.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 13.10% from the stock’s current price.
According to Zacks, “Shake Shack Inc. is engaged in owning and operating restaurants. The company offers burgers, hot dogs, frozen custard, crinkle cut fries, beer and wine. It operates primarily in New York, New Jersey, Washington, D.C., Connecticut, Georgia, Illinois, Pennsylvania, Florida, Massachusetts, Virginia, Nevada, London, Istanbul and Dubai. Shake Shack Inc. is headquartered in New York. “
A number of other equities research analysts also recently issued reports on the stock. Buckingham Research reissued a “buy” rating and issued a $45.00 price target on shares of Shake Shack in a research note on Saturday, August 13th. Vetr raised shares of Shake Shack from a “buy” rating to a “strong-buy” rating and set a $39.64 price target on the stock in a research note on Monday, September 5th. Wedbush started coverage on shares of Shake Shack in a research note on Wednesday, July 6th. They issued an “underperform” rating and a $30.00 price target on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $38.00 price target (up from $35.00) on shares of Shake Shack in a research note on Thursday, August 11th. Finally, Jefferies Group reissued a “hold” rating and issued a $36.00 price target (down from $38.00) on shares of Shake Shack in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Shake Shack has a consensus rating of “Hold” and an average price target of $39.89.
Shares of Shake Shack (NYSE:SHAK) traded up 2.62% during trading on Wednesday, hitting $34.48. 345,902 shares of the stock were exchanged. The stock’s 50 day moving average price is $35.23 and its 200-day moving average price is $36.51. Shake Shack has a one year low of $30.00 and a one year high of $53.50. The company has a market cap of $825.90 million, a price-to-earnings ratio of 85.14 and a beta of 1.15.
Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, August 10th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $66.50 million for the quarter, compared to analyst estimates of $63.07 million. Shake Shack had a net margin of 3.35% and a return on equity of 8.09%. Shake Shack’s revenue was up 37.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. On average, analysts predict that Shake Shack will post $0.45 EPS for the current year.
In other Shake Shack news, major shareholder Laura J. Sloate sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $42.35, for a total value of $105,875.00. Following the sale, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $423,500. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Randall J. Garutti sold 8,000 shares of the company’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $32.28, for a total transaction of $258,240.00. Following the completion of the transaction, the chief executive officer now owns 11,100 shares of the company’s stock, valued at approximately $358,308. The disclosure for this sale can be found here. 44.69% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SHAK. Gilder Gagnon Howe & Co. LLC boosted its position in shares of 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 valued at $62,687,000 after buying an additional 294,113 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Blair William & Co. IL boosted its stake in shares of 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 in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of Shake Shack by 168.6% in the second quarter. BlackRock Fund Advisors now owns 368,818 shares of the company’s stock worth $13,436,000 after buying an additional 231,532 shares in the last quarter. Institutional investors and hedge funds own 93.41% of the company’s stock.
Shake Shack Company Profile
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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