Shake Shack Inc. (SHAK) Stock Rating Reaffirmed by Wedbush
Shake Shack Inc. (NYSE:SHAK)‘s stock had its “underperform” rating restated by stock analysts at Wedbush in a report issued on Thursday. They presently have a $30.00 price objective on the stock. Wedbush’s price objective suggests a potential downside of 20.45% from the stock’s previous close.
Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Shake Shack from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Jefferies Group restated a “hold” rating and issued a $38.00 price objective (up from $36.00) on shares of Shake Shack in a report on Thursday. Vetr lowered shares of Shake Shack from a “strong-buy” rating to a “hold” rating and set a $37.49 price objective on the stock. in a report on Thursday. SunTrust Banks Inc. upgraded shares of Shake Shack from a “neutral” rating to a “buy” rating and increased their price objective for the company from $40.87 to $48.00 in a report on Thursday, August 11th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $38.00 price objective (up from $35.00) on shares of Shake Shack in a report on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $38.88.
Shake Shack (NYSE:SHAK) opened at 37.71 on Thursday. The stock has a market capitalization of $791.23 million, a PE ratio of 82.88 and a beta of 1.20. The stock’s 50 day moving average is $33.21 and its 200 day moving average is $35.82. Shake Shack has a 12-month low of $30.00 and a 12-month high of $47.00.
Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Shake Shack had a net margin of 3.97% and a return on equity of 7.37%. The business had revenue of $74.60 million for the quarter, compared to analysts’ expectations of $69.18 million. During the same period in the prior year, the firm earned $0.12 earnings per share. Shake Shack’s revenue was up 40.0% compared to the same quarter last year. 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 firm’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $32.11, for a total value of $256,880.00. Following the completion of the transaction, the chief executive officer now owns 11,100 shares of the company’s stock, valued at $356,421. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Laura J. Sloate sold 2,500 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $35.51, for a total transaction of $88,775.00. Following the completion of the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $710,200. The disclosure for this sale can be found here. Corporate insiders own 44.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHAK. USA Mutuals Advisors Inc. acquired a new position in Shake Shack during the second quarter worth $182,000. UBS Asset Management Americas Inc. increased its position 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. BlackRock Group LTD increased its position in Shake Shack by 16.3% in the third quarter. BlackRock Group LTD now owns 6,472 shares of the company’s stock worth $224,000 after buying an additional 906 shares during the period. BlackRock Advisors LLC increased its position in Shake Shack by 121.1% in the second quarter. BlackRock Advisors LLC now owns 6,245 shares of the company’s stock worth $228,000 after buying an additional 3,420 shares during the period. Finally, US Bancorp DE acquired a new position in Shake Shack during the third quarter worth $248,000. 93.74% of the stock is owned by institutional investors and hedge funds.
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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