Shake Shack (NYSE:SHAK) PT Lowered to $85.00 at SunTrust Banks

Shake Shack (NYSE:SHAK) had its price target lowered by SunTrust Banks to $85.00 in a research report report published on Tuesday, The Fly reports. The firm currently has a buy rating on the stock. SunTrust Banks also issued estimates for Shake Shack’s Q4 2019 earnings at ($0.05) EPS, FY2019 earnings at $0.61 EPS and FY2020 earnings at $0.52 EPS.

A number of other research firms have also recently weighed in on SHAK. Deutsche Bank initiated coverage on shares of Shake Shack in a report on Monday, September 30th. They issued a hold rating and a $90.00 price target on the stock. Morgan Stanley raised their price target on shares of Shake Shack from $65.00 to $84.00 and gave the company an equal weight rating in a report on Friday, October 18th. Wedbush restated a neutral rating and issued a $75.00 price target (down from $84.00) on shares of Shake Shack in a report on Tuesday. Piper Jaffray Companies lowered their price target on shares of Shake Shack from $109.00 to $97.00 and set an overweight rating on the stock in a report on Tuesday. Finally, Stifel Nicolaus raised their price target on shares of Shake Shack from $65.00 to $80.00 and gave the company a hold rating in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Shake Shack has a consensus rating of Hold and an average target price of $75.99.

Shake Shack stock traded down $0.94 during midday trading on Tuesday, hitting $62.06. 2,254,500 shares of the company’s stock were exchanged, compared to its average volume of 888,934. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.08 and a current ratio of 1.04. Shake Shack has a 12 month low of $40.67 and a 12 month high of $105.84. The firm has a 50-day moving average of $89.51 and a two-hundred day moving average of $78.98. The company has a market cap of $2.49 billion, a PE ratio of 87.41, a P/E/G ratio of 4.08 and a beta of 1.24.

Shake Shack (NYSE:SHAK) last issued its earnings results on Monday, November 4th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.06. Shake Shack had a net margin of 3.69% and a return on equity of 9.50%. The company had revenue of $157.76 million for the quarter, compared to analysts’ expectations of $157.45 million. During the same period in the prior year, the business earned $0.21 EPS. The firm’s quarterly revenue was up 31.9% on a year-over-year basis. As a group, equities analysts expect that Shake Shack will post 0.65 earnings per share for the current year.

In related news, Director Jeffrey Flug sold 8,794 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $90.31, for a total value of $794,186.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Randall J. Garutti sold 60,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $103.00, for a total transaction of $6,180,000.00. Following the completion of the transaction, the chief executive officer now directly owns 90,702 shares of the company’s stock, valued at $9,342,306. The disclosure for this sale can be found here. Insiders sold a total of 188,919 shares of company stock valued at $18,057,001 over the last ninety days. 21.85% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. North Star Investment Management Corp. purchased a new position in shares of Shake Shack in the 3rd quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC raised its position in shares of Shake Shack by 600.0% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 350 shares of the company’s stock valued at $34,000 after purchasing an additional 300 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Shake Shack in the 2nd quarter valued at approximately $42,000. Kistler Tiffany Companies LLC purchased a new position in shares of Shake Shack in the 2nd quarter valued at approximately $68,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Shake Shack in the 3rd quarter valued at approximately $82,000. 84.64% of the stock is owned by hedge funds and other institutional investors.

Shake Shack Company Profile

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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