Truist Financial Raises Shake Shack (NYSE:SHAK) Price Target to $124.00

Shake Shack (NYSE:SHAK) had its target price lifted by Truist Financial from $115.00 to $124.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

SHAK has been the topic of several other research reports. Oppenheimer boosted their price target on Shake Shack from $108.00 to $120.00 and gave the company an outperform rating in a research note on Friday, March 22nd. BTIG Research lifted their target price on Shake Shack from $110.00 to $120.00 and gave the stock a buy rating in a report on Thursday, March 14th. Wedbush raised their price target on shares of Shake Shack from $100.00 to $110.00 and gave the stock a neutral rating in a research report on Friday. Robert W. Baird lifted their price objective on shares of Shake Shack from $102.00 to $105.00 and gave the company a neutral rating in a research note on Friday. Finally, Morgan Stanley increased their price objective on shares of Shake Shack from $88.00 to $105.00 and gave the stock an equal weight rating in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Shake Shack has a consensus rating of Hold and a consensus target price of $98.24.

Shake Shack Stock Down 1.7 %

Shares of SHAK traded down $1.85 during midday trading on Friday, hitting $105.62. 1,152,480 shares of the company’s stock traded hands, compared to its average volume of 954,618. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 197.80, a price-to-earnings-growth ratio of 3.79 and a beta of 1.78. Shake Shack has a 1 year low of $52.79 and a 1 year high of $111.29. The firm’s fifty day moving average is $102.37 and its 200-day moving average is $80.77.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The company had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $291.00 million. During the same period last year, the business posted ($0.01) earnings per share. The firm’s revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Shake Shack will post 0.72 earnings per share for the current year.

Insider Activity

In other news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the completion of the sale, the director now owns 550,437 shares of the company’s stock, valued at $52,429,124.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jeffrey Flug sold 304 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $103.01, for a total value of $31,315.04. Following the completion of the sale, the director now owns 3,754 shares of the company’s stock, valued at $386,699.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $95.25, for a total value of $2,857,500.00. Following the transaction, the director now owns 550,437 shares in the company, valued at approximately $52,429,124.25. The disclosure for this sale can be found here. Insiders have sold 100,608 shares of company stock worth $10,178,861 in the last quarter. Corporate insiders own 10.06% of the company’s stock.

Institutional Trading of Shake Shack

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Shake Shack during the 1st quarter valued at about $25,000. GAMMA Investing LLC acquired a new position in Shake Shack in the 4th quarter valued at about $32,000. Ramirez Asset Management Inc. acquired a new position in Shake Shack in the 3rd quarter valued at about $35,000. C M Bidwell & Associates Ltd. grew its stake in shares of Shake Shack by 122.6% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock valued at $65,000 after buying an additional 612 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Shake Shack during the 1st quarter worth approximately $97,000. 86.07% of the stock is owned by institutional investors and hedge funds.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.