Shake Shack, Inc. $SHAK Stock Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. lifted its position in shares of Shake Shack, Inc. (NYSE:SHAK) by 269.6% in the 3rd quarter, Holdings Channel reports. The fund owned 14,520 shares of the company’s stock after buying an additional 10,591 shares during the quarter. Wedbush Securities Inc.’s holdings in Shake Shack were worth $852,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in SHAK. Root Financial Partners LLC purchased a new stake in Shake Shack during the third quarter valued at about $31,000. Integrated Wealth Concepts LLC purchased a new position in shares of Shake Shack in the second quarter worth about $47,000. IFP Advisors Inc increased its stake in shares of Shake Shack by 43.0% in the second quarter. IFP Advisors Inc now owns 924 shares of the company’s stock worth $52,000 after purchasing an additional 278 shares in the last quarter. CoreCap Advisors LLC increased its stake in shares of Shake Shack by 181.1% in the second quarter. CoreCap Advisors LLC now owns 1,088 shares of the company’s stock worth $61,000 after purchasing an additional 701 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of Shake Shack by 838.8% in the third quarter. Sterling Capital Management LLC now owns 1,305 shares of the company’s stock valued at $77,000 after purchasing an additional 1,166 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Performance

Shake Shack stock opened at $64.69 on Tuesday. The firm’s 50 day simple moving average is $65.68 and its 200 day simple moving average is $75.57. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $2.77 billion, a PE ratio of 68.82, a price-to-earnings-growth ratio of 7.11 and a beta of 1.68. Shake Shack, Inc. has a 1-year low of $51.60 and a 1-year high of $107.46.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. Shake Shack had a net margin of 2.56% and a return on equity of 9.29%. The firm had revenue of $417.62 million during the quarter, compared to the consensus estimate of $417.18 million. During the same period last year, the firm earned $0.44 EPS. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. As a group, analysts expect that Shake Shack, Inc. will post 1.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SHAK. JPMorgan Chase & Co. dropped their price target on shares of Shake Shack from $77.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 29th. Guggenheim reiterated a “buy” rating and issued a $90.00 price objective on shares of Shake Shack in a research note on Thursday, October 15th. UBS Group lifted their price objective on shares of Shake Shack from $68.00 to $73.00 and gave the company a “neutral” rating in a research note on Thursday. TD Cowen reissued a “hold” rating on shares of Shake Shack in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Shake Shack from $105.00 to $93.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.43.

Shake Shack Company Profile

Shake Shack Inc operates a fast-casual restaurant chain known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, milkshakes and beverages. Its menu also includes vegetarian and other specialty items, with offerings varying by location. The company emphasizes hospitality, quality ingredients and restaurant designs intended to support both dine-in and takeout service.

The business began as a temporary hot dog cart in Madison Square Park in New York City in 2001 and opened its first permanent restaurant there in 2004.