Piper Sandler Lowers Shake Shack (NYSE:SHAK) Price Target to $66.00

Shake Shack (NYSE:SHAK) had its price objective dropped by research analysts at Piper Sandler from $79.00 to $66.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 6.28% from the stock’s previous close.

A number of other research analysts have also weighed in on SHAK. BNP Paribas Exane cut their target price on shares of Shake Shack from $100.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Robert W. Baird reduced their price objective on Shake Shack from $76.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Stifel Nicolaus upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and decreased their price target for the stock from $105.00 to $85.00 in a research note on Friday, May 8th. Weiss Ratings downgraded Shake Shack from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of Shake Shack in a report on Wednesday, June 3rd. Fifteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.39.

Shake Shack Trading Up 6.0%

Shake Shack stock opened at $62.10 on Tuesday. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 63.37, a P/E/G ratio of 2.63 and a beta of 1.63. Shake Shack has a 52 week low of $51.60 and a 52 week high of $142.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.69. The company has a 50 day moving average price of $60.59 and a 200 day moving average price of $81.51.

Insider Transactions at Shake Shack

In other news, Director Josh Silverman bought 8,290 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $60.38 per share, with a total value of $500,550.20. Following the completion of the purchase, the director owned 8,290 shares of the company’s stock, valued at $500,550.20. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel Harris Meyer bought 32,258 shares of the stock in a transaction that occurred 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 acquisition, the director owned 378,670 shares of the company’s stock, valued at $23,432,099.60. The trade was a 9.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 50,616 shares of company stock valued at $3,109,782. Insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hilton Head Capital Partners LLC acquired a new position in shares of Shake Shack during the 4th quarter worth about $25,000. Geneos Wealth Management Inc. bought a new position in Shake Shack during the first quarter worth $26,000. Assetmark Inc. boosted its position in Shake Shack by 457.6% during the fourth quarter. Assetmark Inc. now owns 368 shares of the company’s stock worth $30,000 after purchasing an additional 302 shares during the period. UMB Bank n.a. increased its holdings in shares of Shake Shack by 42.2% in the fourth quarter. UMB Bank n.a. now owns 391 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Shake Shack in the third quarter valued at $38,000. Institutional investors 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.