Wall Street Zen Upgrades Shake Shack (NYSE:SHAK) to “Hold”

Shake Shack (NYSE:SHAK) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently issued reports on the stock. DA Davidson lifted their price target on shares of Shake Shack from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Gordon Haskett dropped their price objective on Shake Shack from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. BNP Paribas Exane lifted their price objective on Shake Shack from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Weiss Ratings raised Shake Shack from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Finally, Robert W. Baird upgraded Shake Shack to a “hold” rating in a research report on Monday, August 24th. Sixteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.71.

Shake Shack Trading Up 0.1%

Shares of Shake Shack stock opened at $63.74 on Friday. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 67.81, a price-to-earnings-growth ratio of 7.03 and a beta of 1.66. Shake Shack has a 52-week low of $51.60 and a 52-week high of $107.46. The company’s 50-day simple moving average is $65.68 and its 200-day simple moving average is $73.99. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.43.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. The company had revenue of $417.62 million for the quarter, compared to analyst estimates of $417.18 million. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%.The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. As a group, equities research analysts anticipate that Shake Shack will post 1.12 earnings per share for the current year.

Institutional Trading of Shake Shack

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC acquired a new position in Shake Shack in the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. acquired a new position in shares of Shake Shack in the first quarter valued at approximately $26,000. UMB Bank n.a. lifted its stake in shares of Shake Shack by 42.2% during the fourth quarter. UMB Bank n.a. now owns 391 shares of the company’s stock valued at $32,000 after buying an additional 116 shares during the period. Advisory Services Network LLC purchased a new position in shares of Shake Shack during the third quarter valued at approximately $38,000. Finally, Advisors Asset Management Inc. boosted its position in Shake Shack by 142.1% during the fourth quarter. Advisors Asset Management Inc. now owns 518 shares of the company’s stock worth $42,000 after acquiring an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Company Profile

Shake Shack Inc (NYSE: SHAK) operates a global chain of fast-casual restaurants known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, shakes, and other beverages. Its menu also includes beer and wine at select locations, with an emphasis on premium ingredients and hospitality-focused service.

The company traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 as part of a park revitalization project. The first permanent Shake Shack restaurant opened in the park in 2004.