Shake Shack Inc. (SHAK) Stock Rating Reaffirmed by BTIG Research
Shake Shack Inc. (NYSE:SHAK)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a report issued on Friday. They presently have a $40.00 target price on the stock. BTIG Research’s price objective would suggest a potential upside of 4.71% from the stock’s previous close.
A number of other research analysts have also recently 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 note on Wednesday, October 5th. 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. 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 note on Monday, September 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $38.00 price objective (up previously from $35.00) on shares of Shake Shack in a research note on Thursday, August 11th. Finally, Jefferies Group reiterated a “hold” rating and set a $38.00 price objective (up previously from $36.00) on shares of Shake Shack in a research note on Thursday, November 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Shake Shack has an average rating of “Hold” and a consensus target price of $38.88.
Shake Shack (NYSE:SHAK) opened at 38.20 on Friday. The stock’s 50 day moving average price is $33.29 and its 200 day moving average price is $35.79. Shake Shack has a 1-year low of $30.00 and a 1-year high of $47.00. The company has a market cap of $951.98 million, a P/E ratio of 83.96 and a beta of 1.20.
Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Shake Shack had a return on equity of 7.12% and a net margin of 3.97%. The company had revenue of $74.60 million for the quarter, compared to analyst estimates of $69.18 million. During the same period in the previous year, the company posted $0.12 earnings per share. The firm’s revenue was up 40.0% on a year-over-year basis. On average, equities analysts anticipate that Shake Shack will post $0.46 earnings per share for the current fiscal year.
In other Shake Shack news, Director Jonathan D. Sokoloff sold 100,000 shares of the business’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $37.65, for a total transaction of $3,765,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Equity Group L.P. Select sold 108,530 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $35.73, for a total value of $3,877,776.90. The disclosure for this sale can be found here. Corporate insiders own 44.69% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. USA Mutuals Advisors Inc. bought a new stake in Shake Shack during the second quarter valued at about $182,000. UBS Asset Management Americas Inc. raised 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 valued at $219,000 after buying an additional 300 shares in the last quarter. BlackRock Group LTD raised its stake in Shake Shack by 16.3% in the third quarter. BlackRock Group LTD now owns 6,472 shares of the company’s stock valued at $224,000 after buying an additional 906 shares in the last quarter. BlackRock Advisors LLC raised its stake in Shake Shack by 121.1% in the second quarter. BlackRock Advisors LLC now owns 6,245 shares of the company’s stock valued at $228,000 after buying an additional 3,420 shares in the last quarter. Finally, US Bancorp DE bought a new stake in Shake Shack during the third quarter valued at about $248,000. 96.00% of the stock is owned by institutional investors and hedge funds.
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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