BTIG Research Increases Shake Shack (NYSE:SHAK) Price Target to $125.00

Shake Shack (NYSE:SHAK) had its price target raised by BTIG Research from $120.00 to $125.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 17.74% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Oppenheimer boosted their target price on Shake Shack from $108.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. TD Cowen reiterated a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research report on Thursday. Morgan Stanley raised their target price on Shake Shack from $88.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Truist Financial increased their price target on shares of Shake Shack from $115.00 to $124.00 and gave the company a “buy” rating in a report on Friday. Finally, UBS Group boosted their price objective on shares of Shake Shack from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $98.24.

Shake Shack Stock Performance

NYSE:SHAK traded down $1.30 during mid-day trading on Monday, reaching $106.17. 672,547 shares of the stock were exchanged, compared to its average volume of 948,618. The company has a quick ratio of 1.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.52. Shake Shack has a 1 year low of $52.79 and a 1 year high of $111.29. The company has a 50 day simple moving average of $102.37 and a 200-day simple moving average of $80.77. The stock has a market capitalization of $4.49 billion, a P/E ratio of 197.80, a P/E/G ratio of 3.79 and a beta of 1.78.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The company had revenue of $290.50 million for the quarter, compared to analyst estimates of $291.00 million. During the same period in the previous year, the business posted ($0.01) earnings per share. Shake Shack’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts anticipate that Shake Shack will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey Flug sold 304 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value of $31,315.04. Following the completion of the sale, the director now owns 3,754 shares of the company’s stock, valued at $386,699.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Daniel Harris Meyer sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $106.34, for a total transaction of $4,253,600.00. Following the transaction, the director now directly owns 480,437 shares of the company’s stock, valued at approximately $51,089,670.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total transaction of $31,315.04. Following the completion of the sale, the director now directly owns 3,754 shares of the company’s stock, valued at approximately $386,699.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,608 shares of company stock valued at $10,178,861. 10.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Shake Shack

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Shake Shack during the first quarter worth about $25,000. GAMMA Investing LLC bought a new position in Shake Shack during the 4th quarter worth approximately $32,000. Ramirez Asset Management Inc. acquired a new position in shares of Shake Shack in the 3rd quarter worth approximately $35,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Shake Shack in the 1st quarter worth approximately $97,000. Finally, C M Bidwell & Associates Ltd. increased its holdings in shares of Shake Shack by 122.6% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock valued at $65,000 after acquiring an additional 612 shares during the last quarter. 86.07% 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, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.