Credit Suisse Group Boosts Shake Shack (NYSE:SHAK) Price Target to $83.00

Shake Shack (NYSE:SHAK) had its target price increased by Credit Suisse Group from $77.00 to $83.00 in a report published on Tuesday, The Fly reports. Credit Suisse Group currently has an outperform rating on the stock.

Other analysts have also issued reports about the company. TheStreet raised Shake Shack from a c rating to a b rating in a research note on Friday, May 3rd. SunTrust Banks raised their price target on Shake Shack to $86.00 and gave the stock a buy rating in a research note on Tuesday. Goldman Sachs Group started coverage on Shake Shack in a research note on Monday, July 29th. They issued a buy rating and a $95.00 price target on the stock. Barclays lifted their price objective on Shake Shack from $58.00 to $70.00 and gave the company an equal weight rating in a research note on Tuesday. Finally, Piper Jaffray Companies lifted their price objective on Shake Shack from $84.00 to $86.00 and gave the company an overweight rating in a research note on Monday, July 15th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Shake Shack presently has a consensus rating of Buy and an average price target of $73.53.

NYSE:SHAK traded up $0.17 during mid-day trading on Tuesday, reaching $88.79. The company’s stock had a trading volume of 14,815 shares, compared to its average volume of 1,056,038. The stock’s fifty day moving average price is $73.48. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.15 and a current ratio of 1.10. Shake Shack has a twelve month low of $40.67 and a twelve month high of $90.15. The company has a market cap of $3.22 billion, a PE ratio of 125.02, a P/E/G ratio of 6.22 and a beta of 1.41.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Shake Shack had a return on equity of 9.01% and a net margin of 2.96%. The firm had revenue of $152.71 million for the quarter, compared to analyst estimates of $149.77 million. During the same period last year, the company earned $0.29 EPS. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. On average, equities analysts predict that Shake Shack will post 0.64 earnings per share for the current fiscal year.

In related news, insider Tara Comonte sold 9,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $84.64, for a total transaction of $804,080.00. Following the transaction, the insider now directly owns 59,340 shares of the company’s stock, valued at approximately $5,022,537.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Zach Koff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $64.50, for a total value of $322,500.00. Following the transaction, the chief operating officer now directly owns 12,880 shares in the company, valued at $830,760. The disclosure for this sale can be found here. Insiders sold a total of 1,127,681 shares of company stock worth $76,427,921 over the last ninety days. Corporate insiders own 21.85% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Kistler Tiffany Companies LLC acquired a new position in Shake Shack during the 2nd quarter worth approximately $68,000. Truvestments Capital LLC purchased a new stake in Shake Shack during the 1st quarter worth approximately $80,000. National Asset Management Inc. purchased a new stake in Shake Shack during the 2nd quarter worth approximately $203,000. Aperio Group LLC purchased a new stake in Shake Shack during the 2nd quarter worth approximately $230,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Shake Shack during the 2nd quarter worth approximately $271,000. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

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 December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

Read More: Why is a lock-up period needed for an IPO?

The Fly

Analyst Recommendations for Shake Shack (NYSE:SHAK)

Receive News & Ratings for Shake Shack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shake Shack and related companies with MarketBeat.com's FREE daily email newsletter.