Brokerages Set Shake Shack, Inc. (NYSE:SHAK) Target Price at $118.70

Shake Shack, Inc. (NYSE:SHAK) has earned an average rating of “Moderate Buy” from the twenty-seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Fourteen investment analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $119.2174.

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Shake Shack from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Raymond James Financial set a $140.00 price objective on shares of Shake Shack in a research note on Wednesday, January 21st. Morgan Stanley raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $115.00 to $125.00 in a research note on Tuesday, January 20th. Bank of America raised shares of Shake Shack from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $88.00 to $101.00 in a research note on Tuesday, March 31st. Finally, Wolfe Research began coverage on shares of Shake Shack in a research note on Monday, March 9th. They set an “outperform” rating and a $118.00 price target for the company.

Shake Shack Stock Performance

SHAK opened at $99.67 on Tuesday. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 91.44, a PEG ratio of 4.06 and a beta of 1.75. The company has a fifty day moving average of $92.69 and a 200 day moving average of $90.54. Shake Shack has a fifty-two week low of $76.51 and a fifty-two week high of $144.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.76.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, February 26th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $400.53 million during the quarter, compared to analysts’ expectations of $402.06 million. Shake Shack had a net margin of 3.16% and a return on equity of 11.08%. Shake Shack’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the company posted $0.26 earnings per share. As a group, sell-side analysts forecast that Shake Shack will post 1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shake Shack

Large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. purchased a new stake in shares of Shake Shack in the 1st quarter worth approximately $26,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Shake Shack in the 4th quarter worth approximately $25,000. Global Retirement Partners LLC lifted its position in shares of Shake Shack by 83.7% in the 3rd quarter. Global Retirement Partners LLC now owns 327 shares of the company’s stock worth $31,000 after purchasing an additional 149 shares during the period. Assetmark Inc. lifted its position in shares of Shake Shack by 457.6% in the 4th quarter. Assetmark Inc. now owns 368 shares of the company’s stock worth $30,000 after purchasing an additional 302 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of Shake Shack by 42.2% in the 4th quarter. UMB Bank n.a. now owns 391 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the period. Institutional investors own 86.07% of the company’s stock.

About Shake Shack

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.