Shake Shack Inc. (SHAK) Stock Rating Reaffirmed by Jefferies Group
Shake Shack Inc. (NYSE:SHAK)‘s stock had its “hold” rating restated by analysts at Jefferies Group in a research report issued to clients and investors on Thursday. They currently have a $38.00 target price on the stock, up from their prior target price of $36.00. Jefferies Group’s price objective indicates a potential upside of 0.77% from the stock’s current price.
Several other equities analysts have also issued reports on the company. Zacks Investment Research upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Wednesday, October 5th. Buckingham Research reiterated a “buy” rating and issued a $45.00 price objective on shares of Shake Shack in a research report on Saturday, August 13th. Vetr upgraded Shake Shack from a “buy” rating to a “strong-buy” rating and set a $39.64 price objective for the company in a research report on Monday, September 5th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $38.00 price objective (up from $35.00) on shares of Shake Shack in a research report on Thursday, August 11th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $38.88.
Shake Shack (NYSE:SHAK) opened at 37.71 on Thursday. The stock has a 50 day moving average of $33.21 and a 200-day moving average of $35.82. Shake Shack has a 52-week low of $30.00 and a 52-week high of $47.00. The company has a market cap of $791.23 million, a price-to-earnings ratio of 82.88 and a beta of 1.20.
Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, November 9th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The company earned $74.60 million during the quarter, compared to analyst estimates of $69.18 million. Shake Shack had a return on equity of 7.12% and a net margin of 3.97%. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 EPS. On average, analysts forecast that Shake Shack will post $0.46 EPS for the current year.
In related news, CEO Randall J. Garutti sold 8,000 shares of the stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $32.28, for a total value of $258,240.00. Following the sale, the chief executive officer now owns 11,100 shares in the company, valued at approximately $358,308. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Laura J. Sloate sold 2,500 shares of the stock in a transaction on Monday, September 26th. The shares were sold at an average price of $35.51, for a total value of $88,775.00. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at approximately $710,200. The disclosure for this sale can be found here. Insiders own 44.69% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake 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. UBS Asset Management Americas Inc. boosted its stake in Shake Shack by 5.3% in the second quarter. UBS Asset Management Americas Inc. now owns 6,000 shares of the company’s stock worth $219,000 after buying an additional 300 shares during the period. Nationwide Fund Advisors boosted its stake in Shake Shack by 163.9% in the second quarter. Nationwide Fund Advisors now owns 10,243 shares of the company’s stock worth $373,000 after buying an additional 6,361 shares during the period. JPMorgan Chase & Co. boosted its stake in Shake Shack by 74.1% in the second quarter. JPMorgan Chase & Co. now owns 28,616 shares of the company’s stock worth $1,042,000 after buying an additional 12,180 shares during the period. Finally, Blair William & Co. IL boosted its stake 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. Institutional investors and hedge funds own 96.00% of the company’s stock.
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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