JPMorgan Chase & Co. Has Lowered Expectations for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its target price decreased by research analysts at JPMorgan Chase & Co. from $77.00 to $75.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 30.03% from the company’s current price.

Other equities analysts have also issued reports about the company. Robert W. Baird raised Shake Shack to a “hold” rating in a research note on Monday, August 24th. Morgan Stanley set a $74.00 price objective on shares of Shake Shack in a research report on Thursday, August 6th. Wells Fargo & Company reduced their price objective on shares of Shake Shack from $80.00 to $65.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “hold” rating and issued a $66.00 price objective on shares of Shake Shack in a research note on Tuesday, June 2nd. Finally, BNP Paribas Exane boosted their target price on shares of Shake Shack from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Sixteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.29.

Shake Shack Trading Up 0.3%

Shares of SHAK stock traded up $0.16 during mid-day trading on Tuesday, hitting $57.68. The company’s stock had a trading volume of 121,974 shares, compared to its average volume of 1,767,730. The company’s fifty day simple moving average is $65.66 and its 200-day simple moving average is $71.08. Shake Shack has a 52 week low of $51.60 and a 52 week high of $107.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.64 and a current ratio of 1.67. The company has a market cap of $2.47 billion, a PE ratio of 61.38, a P/E/G ratio of 6.12 and a beta of 1.66.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%.The company had revenue of $417.62 million for the quarter, compared to the consensus estimate of $417.18 million. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue was up 17.2% compared to the same quarter last year. As a group, equities research analysts expect that Shake Shack will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Sei Investments Co. grew its stake in shares of Shake Shack by 187.7% in the 1st quarter. Sei Investments Co. now owns 41,683 shares of the company’s stock worth $3,688,000 after acquiring an additional 27,194 shares in the last quarter. Fund 1 Investments LLC purchased a new stake in shares of Shake Shack in the second quarter valued at about $840,000. Raiffeisen Bank International AG bought a new position in shares of Shake Shack during the second quarter valued at about $1,644,000. Wasatch Advisors LP lifted its position in shares of Shake Shack by 16.5% during the first quarter. Wasatch Advisors LP now owns 407,283 shares of the company’s stock valued at $36,032,000 after purchasing an additional 57,612 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Shake Shack by 9.3% during the first quarter. Bank of America Corp DE now owns 899,013 shares of the company’s stock worth $79,536,000 after purchasing an additional 76,724 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

Shake Shack Company Profile

Shake Shack Inc (NYSE: SHAK) operates a global chain of fast-casual restaurants known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, shakes, and other beverages. Its menu also includes beer and wine at select locations, with an emphasis on premium ingredients and hospitality-focused service.

The company traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 as part of a park revitalization project. The first permanent Shake Shack restaurant opened in the park in 2004.