Truist Financial Increases Shake Shack (NYSE:SHAK) Price Target to $124.00

Shake Shack (NYSE:SHAK) had its price objective raised by stock analysts at Truist Financial from $115.00 to $124.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 15.38% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Robert W. Baird increased their price target on Shake Shack from $102.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday. Raymond James raised their target price on Shake Shack from $90.00 to $115.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 16th. StockNews.com lowered Shake Shack from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. increased their price target on Shake Shack from $65.00 to $100.00 and gave the stock an “underweight” rating in a report on Monday, March 4th. Finally, UBS Group lifted their price objective on shares of Shake Shack from $80.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $96.33.

Shake Shack Price Performance

Shake Shack stock opened at $107.47 on Friday. The stock’s 50 day moving average is $102.37 and its 200 day moving average is $80.59. Shake Shack has a one year low of $52.79 and a one year high of $110.90. The firm has a market cap of $4.55 billion, a P/E ratio of 195.40, a P/E/G ratio of 3.80 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.03 and a quick ratio of 2.01.

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

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the business’s 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 completion of the sale, the director now directly owns 550,437 shares of the company’s stock, valued at approximately $52,429,124.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction on 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 approximately $52,429,124.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $103.01, for a total transaction of $31,315.04. Following the completion of the sale, the director now owns 3,754 shares of the company’s stock, valued at approximately $386,699.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,760 shares of company stock valued at $10,190,420. 10.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Shake Shack in the 1st quarter worth approximately $25,000. GAMMA Investing LLC bought a new stake in Shake Shack during the fourth quarter worth $32,000. Ramirez Asset Management Inc. purchased a new position in Shake Shack in the third quarter worth $35,000. C M Bidwell & Associates Ltd. grew its stake in Shake Shack by 122.6% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock valued at $65,000 after purchasing an additional 612 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Shake Shack in the 1st quarter valued at $97,000. Hedge funds and other institutional investors own 86.07% 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, 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.