Analysts Set Shake Shack Inc (SHAK) Target Price at $54.56

Shake Shack Inc (NYSE:SHAK) has received a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $54.56.

A number of brokerages recently commented on SHAK. Stifel Nicolaus began coverage on Shake Shack in a research report on Tuesday, October 9th. They issued a “hold” rating and a $65.00 target price for the company. Zacks Investment Research downgraded Shake Shack from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 4th. Wedbush cut their price target on Shake Shack from $62.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, November 2nd. SunTrust Banks cut their price target on Shake Shack to $60.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Finally, Longbow Research upgraded Shake Shack from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Tuesday, November 6th.

In other Shake Shack news, major shareholder Equity Group L.P. Select sold 57,404 shares of the business’s stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $53.56, for a total transaction of $3,074,558.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Randall J. Garutti sold 25,000 shares of the business’s stock in a transaction on Wednesday, December 26th. The shares were sold at an average price of $42.23, for a total transaction of $1,055,750.00. Following the sale, the chief executive officer now directly owns 43,041 shares in the company, valued at approximately $1,817,621.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 252,236 shares of company stock worth $13,236,516. 30.18% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in shares of Shake Shack by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 227,898 shares of the company’s stock valued at $15,083,000 after purchasing an additional 7,923 shares during the period. SG Americas Securities LLC acquired a new position in shares of Shake Shack in the 2nd quarter valued at $387,000. Schwab Charles Investment Management Inc. boosted its position in shares of Shake Shack by 12.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 110,419 shares of the company’s stock valued at $7,308,000 after purchasing an additional 11,918 shares during the period. Swiss National Bank boosted its position in shares of Shake Shack by 19.8% in the 2nd quarter. Swiss National Bank now owns 42,400 shares of the company’s stock valued at $2,806,000 after purchasing an additional 7,000 shares during the period. Finally, BlackRock Inc. boosted its position in Shake Shack by 15.2% during the 2nd quarter. BlackRock Inc. now owns 2,914,696 shares of the company’s stock worth $192,895,000 after acquiring an additional 384,867 shares during the period. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of Shake Shack stock opened at $50.79 on Friday. Shake Shack has a one year low of $36.58 and a one year high of $70.12. The stock has a market capitalization of $1.83 billion, a P/E ratio of 89.11, a PEG ratio of 3.02 and a beta of 1.48.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, November 1st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Shake Shack had a return on equity of 10.64% and a net margin of 0.40%. The business had revenue of $119.65 million during the quarter, compared to analyst estimates of $116.81 million. During the same period in the previous year, the company posted $0.17 EPS. The firm’s revenue was up 26.5% compared to the same quarter last year. On average, equities analysts anticipate that Shake Shack will post 0.69 earnings per share for the current fiscal year.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of October 9, 2018, it operated 180 locations in 26 U.S.

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Analyst Recommendations for Shake Shack (NYSE:SHAK)

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