Shake Shack Inc (SHAK) Upgraded by Wedbush to “Neutral”
Shake Shack Inc (NYSE:SHAK) was upgraded by investment analysts at Wedbush from an “underperform” rating to a “neutral” rating in a report issued on Monday. The brokerage currently has a $33.00 price target on the stock, up from their previous price target of $30.00. Wedbush’s price objective points to a potential upside of 2.33% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Morgan Stanley reaffirmed an “underweight” rating and issued a $34.00 price target on shares of Shake Shack in a research note on Friday, March 3rd. Buckingham Research reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Shake Shack in a research note on Monday, February 27th. Zacks Investment Research cut Shake Shack from a “hold” rating to a “sell” rating in a research note on Tuesday, March 7th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $49.00 price target on shares of Shake Shack in a research note on Sunday, March 5th. Finally, Stifel Nicolaus decreased their price target on Shake Shack from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Thursday, March 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $38.94.
Shares of Shake Shack (NYSE:SHAK) traded down 0.62% during trading on Monday, hitting $32.25. The company had a trading volume of 854,177 shares. Shake Shack has a 1-year low of $30.36 and a 1-year high of $42.94. The firm has a market capitalization of $821.41 million, a P/E ratio of 60.85 and a beta of 1.31. The company’s 50 day moving average is $34.57 and its 200 day moving average is $35.02.
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Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, March 1st. The company reported $0.09 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.09. The business had revenue of $73.30 million for the quarter, compared to analysts’ expectations of $70.68 million. Shake Shack had a return on equity of 7.12% and a net margin of 3.97%. The business’s quarterly revenue was up 43.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. Analysts anticipate that Shake Shack will post $0.51 earnings per share for the current fiscal year.
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In related news, major shareholder Flug 2012 Gs Trust U/A/D 9/4/1 sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $32.49, for a total value of $324,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $38.01, for a total value of $760,200.00. The disclosure for this sale can be found here. Insiders have sold 76,000 shares of company stock worth $2,664,100 over the last three months. Insiders own 44.69% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Sandler Capital Management purchased a new stake in shares of Shake Shack during the fourth quarter valued at $7,910,000. Numeric Investors LLC boosted its stake in shares of Shake Shack by 32.4% in the fourth quarter. Numeric Investors LLC now owns 32,268 shares of the company’s stock valued at $1,155,000 after buying an additional 7,900 shares during the last quarter. Congress Asset Management Co. MA purchased a new stake in shares of Shake Shack during the fourth quarter valued at $483,000. Guggenheim Capital LLC boosted its stake in shares of Shake Shack by 29.5% in the fourth quarter. Guggenheim Capital LLC now owns 8,250 shares of the company’s stock valued at $296,000 after buying an additional 1,881 shares during the last quarter. Finally, 12 West Capital Management LP purchased a new stake in shares of Shake Shack during the fourth quarter valued at $34,418,000. 93.39% of the stock is currently owned by institutional investors.
Shake Shack Company Profile
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company has approximately 84 Shacks in over 10 countries and approximately 45 cities. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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