Shake Shack (NYSE:SHAK) Reaches New 1-Year High on Analyst Upgrade

Shares of Shake Shack Inc. (NYSE:SHAK) hit a new 52-week high during trading on Monday after BTIG Research raised their price target on the stock from $120.00 to $125.00. BTIG Research currently has a buy rating on the stock. Shake Shack traded as high as $111.29 and last traded at $109.09, with a volume of 388089 shares. The stock had previously closed at $107.47.

Several other research firms have also recently commented on SHAK. JPMorgan Chase & Co. boosted their price target on Shake Shack from $65.00 to $100.00 and gave the stock an “underweight” rating in a research note on Monday, March 4th. Morgan Stanley upped their target price on Shake Shack from $88.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Wedbush increased their target price on Shake Shack from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Oppenheimer lifted their price target on shares of Shake Shack from $108.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, TD Cowen reiterated a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Shake Shack presently has a consensus rating of “Hold” and a consensus target price of $98.24.

Insider Buying and Selling at Shake Shack

In other news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the sale, the director now directly owns 550,437 shares in the company, valued at approximately $52,429,124.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $108.05, for a total value of $32,847.20. Following the sale, the director now directly owns 4,058 shares in the company, valued at approximately $438,466.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the transaction, the director now directly owns 550,437 shares of the company’s stock, valued at $52,429,124.25. The disclosure for this sale can be found here. Insiders sold a total of 100,608 shares of company stock worth $10,178,861 over the last ninety days. Company insiders own 10.06% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Several large investors have recently made changes to their positions in SHAK. Susquehanna Fundamental Investments LLC grew its holdings in Shake Shack by 3.5% in the 1st quarter. Susquehanna Fundamental Investments LLC now owns 18,617 shares of the company’s stock worth $1,937,000 after buying an additional 632 shares in the last quarter. River Global Investors LLP boosted its position in Shake Shack by 48.0% during the 1st quarter. River Global Investors LLP now owns 13,470 shares of the company’s stock worth $1,401,000 after acquiring an additional 4,368 shares during the period. Hyman Charles D bought a new position in shares of Shake Shack in the first quarter worth $242,000. Illinois Municipal Retirement Fund increased its holdings in shares of Shake Shack by 5.6% during the first quarter. Illinois Municipal Retirement Fund now owns 22,530 shares of the company’s stock valued at $2,344,000 after purchasing an additional 1,193 shares during the period. Finally, ClariVest Asset Management LLC increased its holdings in shares of Shake Shack by 20.3% during the first quarter. ClariVest Asset Management LLC now owns 7,228 shares of the company’s stock valued at $752,000 after purchasing an additional 1,218 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Trading Down 0.5 %

The firm has a market capitalization of $4.45 billion, a P/E ratio of 191.06, a PEG ratio of 3.79 and a beta of 1.78. The business’s 50 day moving average is $102.51 and its two-hundred day moving average is $81.47. The company has a quick ratio of 1.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.52.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $290.50 million for the quarter, compared to the consensus estimate of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. Shake Shack’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS. Analysts expect that Shake Shack Inc. will post 0.72 EPS for the current year.

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, 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.