Truist Financial Issues Positive Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its price objective increased by analysts at Truist Financial from $143.00 to $154.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 36.39% from the stock’s current price.

Other research analysts have also issued research reports about the company. UBS Group upped their price objective on Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $125.00 to $159.00 in a report on Tuesday, January 7th. Wedbush upped their price objective on Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday. Stifel Nicolaus dropped their price objective on Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a report on Friday, January 17th. Finally, Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Shake Shack currently has an average rating of “Hold” and an average target price of $125.50.

Shake Shack Stock Performance

Shares of Shake Shack stock traded down $10.70 during trading hours on Friday, hitting $112.91. 1,439,179 shares of the company were exchanged, compared to its average volume of 1,408,223. Shake Shack has a 1 year low of $77.50 and a 1 year high of $139.89. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average of $122.24 and a 200-day moving average of $116.17. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 664.50 and a beta of 1.86.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The business had revenue of $328.68 million during the quarter, compared to analysts’ expectations of $329.02 million. As a group, analysts expect that Shake Shack will post 0.9 EPS for the current fiscal year.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the transaction, the chief financial officer now directly owns 30,717 shares in the company, valued at approximately $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Large investors have recently added to or reduced their stakes in the business. Nemes Rush Group LLC purchased a new position in Shake Shack during the fourth quarter worth about $29,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Shake Shack in the 4th quarter worth about $32,000. Transcendent Capital Group LLC purchased a new position in shares of Shake Shack in the 4th quarter worth about $52,000. R Squared Ltd purchased a new position in shares of Shake Shack in the 4th quarter worth about $56,000. Finally, Montag & Caldwell LLC purchased a new position in shares of Shake Shack in the 4th quarter worth about $68,000. 86.07% of the stock is currently 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.