Shake Shack, Inc. (NYSE:SHAK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Shake Shack, Inc. (NYSE:SHAK) have been given an average recommendation of “Moderate Buy” by the twenty-eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $89.7083.

A number of research analysts have recently weighed in on SHAK shares. Wells Fargo & Company dropped their price objective on shares of Shake Shack from $80.00 to $65.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on Shake Shack from $105.00 to $93.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Jefferies Financial Group reissued a “hold” rating and issued a $66.00 price target on shares of Shake Shack in a report on Tuesday, June 2nd. Mizuho set a $90.00 price objective on Shake Shack in a research report on Thursday, August 6th. Finally, UBS Group decreased their price objective on Shake Shack from $79.00 to $68.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd.

Shake Shack Trading Down 8.6%

NYSE:SHAK opened at $58.06 on Friday. The company has a market capitalization of $2.49 billion, a PE ratio of 61.77, a price-to-earnings-growth ratio of 7.02 and a beta of 1.66. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.43. Shake Shack has a 52-week low of $51.60 and a 52-week high of $107.46. The stock has a fifty day simple moving average of $65.93 and a 200-day simple moving average of $73.57.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. The firm had revenue of $417.62 million for the quarter, compared to analysts’ expectations of $417.18 million. Shake Shack had a net margin of 2.56% and a return on equity of 9.29%. The firm’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS. On average, equities research analysts expect that Shake Shack will post 1.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shake Shack

Hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new position in shares of Shake Shack in the second quarter valued at approximately $47,000. Hedeker Wealth LLC purchased a new position in shares of Shake Shack during the second quarter valued at approximately $2,843,000. IFP Advisors Inc boosted its position in Shake Shack by 43.0% during the second quarter. IFP Advisors Inc now owns 924 shares of the company’s stock worth $52,000 after acquiring an additional 278 shares during the last quarter. Nykredit A S acquired a new stake in Shake Shack during the second quarter worth approximately $123,000. Finally, Fund 1 Investments LLC purchased a new stake in Shake Shack in the 2nd quarter worth approximately $840,000. 86.07% of the stock is owned by institutional investors and hedge funds.

About Shake Shack

Shake Shack Inc (NYSE: SHAK) operates a global chain of fast-casual restaurants known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, shakes, and other beverages. Its menu also includes beer and wine at select locations, with an emphasis on premium ingredients and hospitality-focused service.

The company traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 as part of a park revitalization project. The first permanent Shake Shack restaurant opened in the park in 2004.