Shake Shack Inc. (SHAK) Receives $40.60 Consensus Target Price from Brokerages
Shares of Shake Shack Inc. (NYSE:SHAK) have received an average recommendation of “Hold” from the fourteen research firms that are presently covering the firm. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $40.42.
A number of equities research analysts have issued reports on SHAK shares. Vetr upgraded shares of Shake Shack from a “sell” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Friday, August 12th. Zacks Investment Research upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Saturday, July 23rd. SunTrust Banks Inc. upgraded shares of Shake Shack from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $40.87 to $48.00 in a research note on Thursday, August 11th. Buckingham Research reiterated a “buy” rating and set a $45.00 price objective on shares of Shake Shack in a research note on Saturday, August 13th. Finally, Jefferies Group reiterated a “hold” rating and set a $36.00 price objective (down from $38.00) on shares of Shake Shack in a research note on Thursday, August 11th.
In related news, major shareholder Richard D. Coraine sold 59,362 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $40.00, for a total value of $2,374,480.00. Following the completion of the transaction, the insider now owns 5,000 shares in the company, valued at approximately $200,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Equity Group L.P. Select sold 160,217 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $37.76, for a total transaction of $6,049,793.92. The disclosure for this sale can be found here. 44.69% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SHAK. Lord Abbett & CO. LLC raised its position 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 during the period. Vanguard Group Inc. raised 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 valued at $34,157,000 after buying an additional 684,234 shares during the last quarter. Granite Point Capital Management L.P. purchased a new position in Shake Shack during the second quarter valued at about $10,929,000. Gilder Gagnon Howe & Co. LLC raised 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 valued at $62,687,000 after buying an additional 294,113 shares during the last quarter. Finally, Blair William & Co. IL raised 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 valued at $17,848,000 after buying an additional 258,341 shares during the last quarter. Institutional investors and hedge funds own 93.41% of the company’s stock.
Shake Shack (NYSE:SHAK) opened at 32.30 on Friday. The firm has a market cap of $773.68 million, a PE ratio of 79.75 and a beta of 1.15. Shake Shack has a one year low of $30.00 and a one year high of $53.50. The company’s 50-day moving average is $34.51 and its 200-day moving average is $36.42.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $66.50 million for the quarter, compared to the consensus estimate of $63.07 million. Shake Shack had a net margin of 3.35% and a return on equity of 8.09%. The business’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. On average, analysts forecast that Shake Shack will post $0.45 earnings per share for the current fiscal year.
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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