Shake Shack (NYSE:SHAK) Price Target Raised to $86.00 at SunTrust Banks

Shake Shack (NYSE:SHAK) had its price target boosted by SunTrust Banks to $86.00 in a research report released on Tuesday, The Fly reports. The firm currently has a buy rating on the stock. SunTrust Banks also issued estimates for Shake Shack’s Q3 2019 earnings at $0.20 EPS, Q4 2019 earnings at $0.03 EPS, FY2019 earnings at $0.63 EPS and FY2020 earnings at $0.77 EPS.

Other research analysts have also issued reports about the stock. Wedbush reissued a hold rating and set a $75.00 target price on shares of Shake Shack in a research note on Tuesday. Goldman Sachs Group started coverage on shares of Shake Shack in a research note on Monday, July 29th. They set a buy rating and a $95.00 target price on the stock. Credit Suisse Group started coverage on shares of Shake Shack in a research note on Tuesday, June 25th. They set an outperform rating and a $77.00 target price on the stock. Piper Jaffray Companies increased their target price on shares of Shake Shack from $84.00 to $86.00 and gave the stock an overweight rating in a research note on Monday, July 15th. Finally, Zacks Investment Research lowered shares of Shake Shack from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Shake Shack currently has a consensus rating of Buy and an average price target of $73.53.

Shares of NYSE SHAK opened at $88.73 on Tuesday. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 127.22, a PEG ratio of 5.95 and a beta of 1.41. Shake Shack has a 12-month low of $40.67 and a 12-month high of $90.55. The business’s fifty day moving average is $73.94. 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 (NYSE:SHAK) last issued its earnings results on Monday, August 5th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The business had revenue of $152.71 million for the quarter, compared to analyst estimates of $149.77 million. Shake Shack had a net margin of 2.96% and a return on equity of 9.01%. Shake Shack’s revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. As a group, equities analysts anticipate that Shake Shack will post 0.64 EPS for the current year.

In other Shake Shack news, insider Tara Comonte sold 9,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $84.64, for a total value of $804,080.00. Following the transaction, the insider now directly owns 59,340 shares of the company’s stock, valued at $5,022,537.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan D. Sokoloff sold 229,962 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $60.20, for a total transaction of $13,843,712.40. The disclosure for this sale can be found here. Insiders sold 1,169,668 shares of company stock worth $80,157,825 over the last ninety days. Insiders own 21.85% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. Kistler Tiffany Companies LLC bought a new position in shares of Shake Shack during the second quarter valued at about $68,000. Truvestments Capital LLC bought a new position in shares of Shake Shack during the first quarter valued at about $80,000. National Asset Management Inc. bought a new position in shares of Shake Shack during the second quarter valued at about $203,000. Aperio Group LLC bought a new position in shares of Shake Shack during the second quarter valued at about $230,000. Finally, Everence Capital Management Inc. bought a new position in shares of Shake Shack during the first quarter valued at about $241,000. 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.

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Analyst Recommendations for Shake Shack (NYSE:SHAK)

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