Shake Shack, Inc. (NYSE:SHAK) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Shake Shack, Inc. (NYSE:SHAK) have been given a consensus rating of “Hold” by the twenty-seven research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $89.3913.

SHAK has been the subject of several research analyst reports. Barclays lowered their target price on shares of Shake Shack from $118.00 to $96.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. TD Cowen reissued a “hold” rating and issued a $70.00 price target on shares of Shake Shack in a research note on Wednesday, June 3rd. UBS Group restated a “neutral” rating and issued a $79.00 price objective on shares of Shake Shack in a report on Wednesday, June 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Shake Shack from $100.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Finally, Citigroup reiterated a “buy” rating on shares of Shake Shack in a report on Wednesday, June 3rd.

Shake Shack Stock Performance

NYSE SHAK opened at $61.71 on Thursday. The stock has a fifty day simple moving average of $58.04 and a 200-day simple moving average of $79.74. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.64 billion, a PE ratio of 62.97, a P/E/G ratio of 4.41 and a beta of 1.63. Shake Shack has a twelve month low of $51.60 and a twelve month high of $142.20.

Insider Buying and Selling at Shake Shack

In other news, Director Daniel Harris Meyer acquired 32,258 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average price of $61.88 per share, for a total transaction of $1,996,125.04. Following the acquisition, the director owned 378,670 shares of the company’s stock, valued at $23,432,099.60. This represents a 9.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sumaiya Balbale bought 4,068 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $61.42 per share, for a total transaction of $249,856.56. Following the purchase, the director owned 13,407 shares in the company, valued at $823,457.94. This represents a 43.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 50,616 shares of company stock valued at $3,109,782. Corporate insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Institutional investors have recently bought and sold shares of the company. Hilton Head Capital Partners LLC purchased a new stake in Shake Shack during the fourth quarter worth about $25,000. Geneos Wealth Management Inc. purchased a new position in shares of Shake Shack in the first quarter valued at approximately $26,000. Assetmark Inc. grew its holdings in shares of Shake Shack by 457.6% in the fourth quarter. Assetmark Inc. now owns 368 shares of the company’s stock valued at $30,000 after purchasing an additional 302 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Shake Shack by 42.2% in the fourth quarter. UMB Bank n.a. now owns 391 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Shake Shack in the third quarter worth $38,000. 86.07% of the stock is owned by institutional investors and hedge funds.

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.