Barclays Increases Shake Shack (NYSE:SHAK) Price Target to $70.00

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Shake Shack (NYSE:SHAK) had its price target lifted by stock analysts at Barclays from $58.00 to $70.00 in a research note issued on Tuesday, The Fly reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential downside of 17.88% from the stock’s current price.

Several other research firms also recently issued reports on SHAK. ValuEngine upgraded Shake Shack from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 6th. Longbow Research downgraded Shake Shack from a “buy” rating to a “neutral” rating and set a $58.80 price objective on the stock. in a report on Wednesday, April 17th. They noted that the move was a valuation call. Wedbush restated a “hold” rating and set a $75.00 price objective on shares of Shake Shack in a report on Tuesday. Credit Suisse Group assumed coverage on Shake Shack in a report on Tuesday, June 25th. They set an “outperform” rating and a $77.00 price objective on the stock. Finally, Zacks Investment Research downgraded Shake Shack from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $72.44.

SHAK stock opened at $85.24 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.94. Shake Shack has a 52-week low of $40.67 and a 52-week high of $88.43. The business’s 50 day simple moving average is $73.01. The stock has a market cap of $2.80 billion, a P/E ratio of 120.06, a PEG ratio of 5.67 and a beta of 1.41.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. Shake Shack had a return on equity of 9.64% and a net margin of 2.88%. The company had revenue of $152.71 million for the quarter, compared to the consensus estimate of $149.77 million. During the same period in the previous year, the business earned $0.29 EPS. Shake Shack’s revenue for the quarter was up 31.3% compared to the same quarter last year. Equities research analysts anticipate that Shake Shack will post 0.59 EPS for the current fiscal year.

In other Shake Shack news, Director Daniel Harris Meyer sold 25,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $75.50, for a total transaction of $1,887,500.00. Following the completion of the transaction, the director now owns 1,411 shares in the company, valued at approximately $106,530.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan D. Sokoloff sold 229,962 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $60.20, for a total value of $13,843,712.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,098,181 shares of company stock valued at $73,873,841 in the last quarter. 21.85% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in SHAK. Dimensional Fund Advisors LP boosted its position in Shake Shack by 51.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 417,461 shares of the company’s stock worth $18,960,000 after acquiring an additional 141,498 shares during the period. FMR LLC lifted its holdings in shares of Shake Shack by 13.0% in the first quarter. FMR LLC now owns 1,203,667 shares of the company’s stock valued at $71,197,000 after buying an additional 138,218 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of Shake Shack in the second quarter valued at $8,447,000. Apertura Capital LLC lifted its holdings in shares of Shake Shack by 133.3% in the first quarter. Apertura Capital LLC now owns 175,000 shares of the company’s stock valued at $10,351,000 after buying an additional 100,000 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of Shake Shack in the second quarter valued at $7,169,000. Institutional investors own 84.64% of the company’s stock.

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, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

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