Shake Shack, Inc. (SHAK) Lifted to Hold at BidaskClub
BidaskClub upgraded shares of Shake Shack, Inc. (NYSE:SHAK) from a sell rating to a hold rating in a research note published on Tuesday morning.
A number of other equities research analysts have also recently commented on SHAK. Wedbush cut shares of Shake Shack from an outperform rating to a neutral rating and lowered their price target for the stock from $40.00 to $36.00 in a report on Tuesday, September 26th. Barclays PLC lowered their price target on shares of Shake Shack from $35.00 to $34.00 and set an equal weight rating on the stock in a report on Friday, August 4th. Vetr raised shares of Shake Shack from a buy rating to a strong-buy rating and set a $42.33 price target on the stock in a report on Wednesday, June 14th. SunTrust Banks, Inc. reaffirmed a buy rating on shares of Shake Shack in a report on Monday, August 21st. Finally, Cowen and Company reaffirmed a hold rating and issued a $35.00 price target on shares of Shake Shack in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $37.19.
Shares of Shake Shack (SHAK) opened at 33.25 on Tuesday. Shake Shack has a 1-year low of $30.52 and a 1-year high of $39.70. The company has a market cap of $863.87 million, a price-to-earnings ratio of 57.93 and a beta of 1.33. The firm has a 50-day moving average price of $32.44 and a 200 day moving average price of $32.44.
Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, August 3rd. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. Shake Shack had a return on equity of 8.71% and a net margin of 4.70%. The firm had revenue of $91.30 million for the quarter, compared to the consensus estimate of $89.00 million. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s revenue was up 37.3% compared to the same quarter last year. On average, analysts predict that Shake Shack will post $0.51 EPS for the current fiscal year.
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In other news, CEO Randall J. Garutti sold 16,000 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $34.82, for a total value of $557,120.00. Following the transaction, the chief executive officer now owns 26,961 shares of the company’s stock, valued at $938,782.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey Flug sold 14,050 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $31.54, for a total transaction of $443,137.00. Following the completion of the transaction, the director now directly owns 4,415 shares in the company, valued at approximately $139,249.10. The disclosure for this sale can be found here. Insiders have sold a total of 150,452 shares of company stock worth $4,779,481 in the last three months. Insiders own 34.91% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SHAK. FNY Partners Fund LP bought a new position in shares of Shake Shack in the first quarter worth $100,000. BNP Paribas Arbitrage SA increased its holdings in shares of Shake Shack by 206.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,666 shares of the company’s stock worth $122,000 after purchasing an additional 2,469 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Shake Shack by 109.7% in the first quarter. Victory Capital Management Inc. now owns 3,715 shares of the company’s stock worth $124,000 after purchasing an additional 1,943 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Shake Shack by 85.2% in the second quarter. State of Alaska Department of Revenue now owns 3,630 shares of the company’s stock worth $126,000 after purchasing an additional 1,670 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of Shake Shack in the first quarter worth $137,000. 82.30% of the stock is currently owned by hedge funds and other 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.
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