Cowen and Company Trims Shake Shack Inc (SHAK) Target Price to $35.00
Shake Shack Inc (NYSE:SHAK) had its price target reduced by investment analysts at Cowen and Company from $37.00 to $35.00 in a report issued on Monday, May 15th, StockTargetPrices.com reports. The brokerage currently has a “market perform” rating on the stock. Cowen and Company’s price target would indicate a potential downside of 6.82% from the stock’s current price.
Several other equities research analysts also recently commented on SHAK. Goldman Sachs Group Inc reduced their price objective on Shake Shack from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, April 6th. Wedbush upgraded Shake Shack from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $30.00 to $33.00 in a report on Monday, March 20th. Morgan Stanley reissued an “underweight” rating and issued a $34.00 target price on shares of Shake Shack in a research report on Friday, March 3rd. Buckingham Research raised Shake Shack from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Friday, May 5th. They noted that the move was a valuation call. Finally, Barclays PLC dropped their target price on Shake Shack from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $37.74.
Shares of Shake Shack (NYSE:SHAK) traded down 0.79% during mid-day trading on Monday, reaching $37.56. 314,399 shares of the company’s stock were exchanged. The firm has a market capitalization of $967.43 million, a P/E ratio of 69.81 and a beta of 1.31. Shake Shack has a one year low of $30.36 and a one year high of $42.94. The stock has a 50-day moving average of $35.08 and a 200 day moving average of $35.28.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. Shake Shack had a return on equity of 7.12% and a net margin of 3.97%. The firm had revenue of $76.70 million during the quarter, compared to the consensus estimate of $74.71 million. During the same period last year, the company earned $0.08 earnings per share. The company’s revenue was up 41.5% on a year-over-year basis. On average, analysts forecast that Shake Shack will post $0.50 EPS for the current fiscal year.
In other news, Director Jeffrey Flug sold 85,000 shares of Shake Shack stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $37.02, for a total transaction of $3,146,700.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Peggy Rubenzer sold 10,719 shares of Shake Shack stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $36.68, for a total value of $393,172.92. Following the transaction, the senior vice president now directly owns 28,134 shares in the company, valued at $1,031,955.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 477,307 shares of company stock worth $17,049,394. Insiders own 44.69% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SHAK. American International Group Inc. boosted its position in Shake Shack by 7.1% in the first quarter. American International Group Inc. now owns 9,667 shares of the company’s stock worth $323,000 after buying an additional 637 shares during the last quarter. Teachers Advisors LLC boosted its position in Shake Shack by 2.6% in the first quarter. Teachers Advisors LLC now owns 26,671 shares of the company’s stock worth $891,000 after buying an additional 688 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Shake Shack by 16.6% in the first quarter. Russell Investments Group Ltd. now owns 7,429 shares of the company’s stock worth $248,000 after buying an additional 1,057 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Shake Shack by 5.1% in the first quarter. Neuberger Berman Group LLC now owns 23,800 shares of the company’s stock worth $795,000 after buying an additional 1,156 shares during the last quarter. Finally, Swiss National Bank boosted its position in Shake Shack by 5.8% in the first quarter. Swiss National Bank now owns 23,700 shares of the company’s stock worth $792,000 after buying an additional 1,300 shares during the last quarter. 93.39% of the stock is currently owned by hedge funds and other 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’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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