Shake Shack (NYSE:SHAK) Trading 5.5% Higher – Here’s What Happened

Shake Shack, Inc. (NYSE:SHAK) shares were up 5.5% on Friday . The stock traded as high as $84.24 and last traded at $83.5390. Approximately 346,398 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,416,384 shares. The stock had previously closed at $79.21.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SHAK shares. Oppenheimer set a $145.00 price target on shares of Shake Shack in a research report on Friday, October 31st. Barclays lowered their price objective on shares of Shake Shack from $160.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Shake Shack in a report on Wednesday, October 8th. Mizuho raised shares of Shake Shack to a “hold” rating in a research report on Tuesday, October 28th. Finally, Stifel Nicolaus decreased their target price on Shake Shack from $110.00 to $105.00 and set a “hold” rating on the stock in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $120.52.

Shake Shack Stock Up 7.3%

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.84 and a quick ratio of 1.81. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 83.37, a price-to-earnings-growth ratio of 2.01 and a beta of 1.67. The firm has a 50 day simple moving average of $89.26 and a two-hundred day simple moving average of $108.39.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $367.41 million for the quarter, compared to the consensus estimate of $363.69 million. Shake Shack had a net margin of 3.10% and a return on equity of 10.43%. Shake Shack’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. As a group, sell-side analysts expect that Shake Shack, Inc. will post 1.26 EPS for the current year.

Insider Activity at Shake Shack

In related news, insider Stephanie Ann Sentell sold 1,100 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $85.14, for a total transaction of $93,654.00. Following the completion of the transaction, the insider directly owned 9,907 shares in the company, valued at approximately $843,481.98. This trade represents a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Shake Shack

Large investors have recently made changes to their positions in the stock. Cetera Investment Advisers increased its holdings in Shake Shack by 145.9% during the first quarter. Cetera Investment Advisers now owns 4,819 shares of the company’s stock worth $425,000 after buying an additional 2,859 shares during the last quarter. LPL Financial LLC lifted its position in shares of Shake Shack by 4.4% in the first quarter. LPL Financial LLC now owns 19,886 shares of the company’s stock valued at $1,753,000 after buying an additional 829 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Shake Shack by 12.1% during the 1st quarter. National Bank of Canada FI now owns 3,166 shares of the company’s stock worth $279,000 after acquiring an additional 342 shares during the period. Invesco Ltd. increased its holdings in shares of Shake Shack by 2.0% during the 1st quarter. Invesco Ltd. now owns 1,269,876 shares of the company’s stock worth $111,965,000 after acquiring an additional 24,783 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Shake Shack in the 1st quarter valued at $557,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

About Shake Shack

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.