Shake Shack, Inc. (NYSE:SHAK)‘s stock had its “hold” rating reissued by analysts at Cowen and Company in a report issued on Tuesday. They currently have a $35.00 target price on the stock. Cowen and Company’s target price would suggest a potential upside of 13.71% from the company’s previous close.

Other analysts have also recently issued research reports about the company. SunTrust Banks, Inc. set a $48.00 target price on Shake Shack and gave the company a “buy” rating in a research report on Tuesday, June 27th. Vetr cut Shake Shack from a “strong-buy” rating to a “buy” rating and set a $42.33 target price on the stock. in a research report on Wednesday, June 7th. Wedbush reaffirmed a “buy” rating on shares of Shake Shack in a research report on Thursday, August 17th. TheStreet raised Shake Shack from a “d” rating to a “c-” rating in a research report on Thursday, August 3rd. Finally, Barclays PLC dropped their target price on Shake Shack from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Shake Shack has a consensus rating of “Hold” and a consensus target price of $37.60.

Shake Shack (NYSE SHAK) traded up 1.72% during midday trading on Tuesday, reaching $31.31. The company’s stock had a trading volume of 486,224 shares. The firm has a 50 day moving average price of $32.15 and a 200-day moving average price of $34.27. Shake Shack has a 12-month low of $30.12 and a 12-month high of $39.70. The company has a market cap of $813.47 million, a P/E ratio of 54.55 and a beta of 1.30.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. The business had revenue of $91.30 million for the quarter, compared to analysts’ expectations of $89.00 million. Shake Shack had a return on equity of 8.71% and a net margin of 4.70%. The business’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. On average, equities research analysts predict that Shake Shack will post $0.52 earnings per share for the current fiscal year.

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In other news, Director Jeffrey Flug sold 25,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $30.98, for a total value of $774,500.00. Following the completion of the sale, the director now owns 4,415 shares of the company’s stock, valued at approximately $136,776.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Equity Group L.P. Select sold 19,452 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $32.01, for a total value of $622,658.52. The disclosure for this sale can be found here. Insiders sold a total of 112,783 shares of company stock valued at $3,666,068 in the last three months. Insiders own 34.91% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Alps Advisors Inc. lifted its position in Shake Shack by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 15,588 shares of the company’s stock worth $544,000 after acquiring an additional 41 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in Shake Shack by 6.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,380 shares of the company’s stock worth $153,000 after acquiring an additional 280 shares during the period. Louisiana State Employees Retirement System lifted its position in Shake Shack by 4.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the company’s stock worth $265,000 after acquiring an additional 300 shares during the period. Dimensional Fund Advisors LP lifted its position in Shake Shack by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 101,162 shares of the company’s stock worth $3,529,000 after acquiring an additional 320 shares during the period. Finally, Arizona State Retirement System lifted its position in Shake Shack by 4.3% during the 2nd quarter. Arizona State Retirement System now owns 9,700 shares of the company’s stock worth $338,000 after acquiring an additional 400 shares during the period. 97.46% of the stock is owned by institutional investors.

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’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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