Shake Shack (NYSE:SHAK) Stock Price Up 5.2% – Should You Buy?

Shake Shack, Inc. (NYSE:SHAK) shares traded up 5.2% during mid-day trading on Tuesday . The company traded as high as $61.39 and last traded at $61.4150. 679,151 shares were traded during mid-day trading, a decline of 63% from the average session volume of 1,839,838 shares. The stock had previously closed at $58.40.

Wall Street Analyst Weigh In

SHAK has been the topic of several research analyst reports. Barclays lowered their price objective on shares of Shake Shack from $118.00 to $96.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Morgan Stanley restated an “equal weight” rating and issued a $76.00 price objective (down from $115.00) on shares of Shake Shack in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Shake Shack from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. BNP Paribas Exane lowered their price objective on shares of Shake Shack from $100.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $66.00 price objective on shares of Shake Shack in a research note on Tuesday, June 2nd. Sixteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.56.

Shake Shack Stock Performance

The firm’s 50 day moving average price is $77.65 and its 200-day moving average price is $85.22. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 62.54, a P/E/G ratio of 2.56 and a beta of 1.63. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.66.

Insider Activity

In other Shake Shack news, Director Daniel Harris Meyer purchased 32,258 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were purchased at an average price of $61.88 per share, for a total transaction of $1,996,125.04. Following the completion of the purchase, the director directly owned 378,670 shares of the company’s stock, valued at approximately $23,432,099.60. This represents a 9.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Flug purchased 1,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were acquired at an average price of $61.30 per share, for a total transaction of $61,300.00. Following the purchase, the director directly owned 5,470 shares of the company’s stock, valued at approximately $335,311. This represents a 22.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 50,616 shares of company stock valued at $3,109,782. 8.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Shake Shack

A number of institutional investors have recently bought and sold shares of the business. Glenview Trust co boosted its stake in Shake Shack by 1.5% during the second quarter. Glenview Trust co now owns 6,925 shares of the company’s stock worth $974,000 after buying an additional 100 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Shake Shack by 12.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 964 shares of the company’s stock worth $91,000 after buying an additional 107 shares during the period. UMB Bank n.a. lifted its position in shares of Shake Shack by 42.2% during the 4th quarter. UMB Bank n.a. now owns 391 shares of the company’s stock worth $32,000 after buying an additional 116 shares during the period. Maryland State Retirement & Pension System lifted its position in shares of Shake Shack by 2.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 5,905 shares of the company’s stock worth $479,000 after buying an additional 119 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Shake Shack by 18.2% during the 4th quarter. Farther Finance Advisors LLC now owns 935 shares of the company’s stock worth $76,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Company Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.