Shake Shack (NYSE:SHAK) Reaches New 52-Week Low – Here’s What Happened

Shake Shack Inc. (NYSE:SHAK)’s share price hit a new 52-week low on Friday . The stock traded as low as $75.95 and last traded at $75.29, with a volume of 594099 shares. The stock had previously closed at $84.21.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SHAK. Gordon Haskett upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research note on Wednesday, January 8th. Oppenheimer increased their target price on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. TD Securities reissued a “buy” rating and issued a $140.00 price target on shares of Shake Shack in a report on Friday, February 21st. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. Finally, Loop Capital upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $124.20.

Shake Shack Price Performance

The firm has a market capitalization of $3.34 billion, a P/E ratio of 341.15 and a beta of 1.80. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average price of $102.14 and a 200-day moving average price of $114.69.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The company had revenue of $328.68 million during the quarter, compared to the consensus estimate of $329.02 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. On average, analysts expect that Shake Shack Inc. will post 1.26 earnings per share for the current year.

Hedge Funds Weigh In On Shake Shack

A number of large investors have recently made changes to their positions in the company. Nemes Rush Group LLC purchased a new stake in Shake Shack in the 4th quarter worth about $29,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Shake Shack in the fourth quarter worth approximately $32,000. Transcendent Capital Group LLC bought a new stake in shares of Shake Shack during the 4th quarter worth approximately $52,000. R Squared Ltd purchased a new position in Shake Shack during the 4th quarter valued at $56,000. Finally, Montag & Caldwell LLC bought a new position in Shake Shack in the 4th quarter valued at $68,000. 86.07% of the stock is owned by hedge funds and other institutional investors.

About Shake Shack

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.