Wedbush Reiterates “Buy” Rating for Shake Shack, Inc. (SHAK)
Shake Shack, Inc. (NYSE:SHAK)‘s stock had its “buy” rating restated by equities researchers at Wedbush in a research note issued on Thursday.
Several other analysts also recently commented on the company. Zacks Investment Research raised Shake Shack from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. Buckingham Research upgraded 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. Cowen and Company lowered their price target on Shake Shack from $37.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday, May 5th. Barclays PLC lowered their price target on Shake Shack from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th. Finally, ValuEngine upgraded Shake Shack from a “sell” rating to a “hold” rating in a report on Friday, May 19th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Shake Shack presently has an average rating of “Hold” and an average price target of $37.60.
Shares of Shake Shack (NYSE:SHAK) opened at 31.70 on Thursday. The company’s 50 day moving average price is $33.92 and its 200-day moving average price is $34.80. Shake Shack has a 52 week low of $30.36 and a 52 week high of $39.70. The stock has a market capitalization of $823.60 million, a PE ratio of 55.23 and a beta of 1.29.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.04. The company had revenue of $91.30 million during the quarter, compared to the consensus estimate of $89 million. Shake Shack had a return on equity of 8.71% and a net margin of 4.70%. Shake Shack’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. Equities research analysts predict that Shake Shack will post $0.52 EPS for the current year.
In other news, CEO Randall J. Garutti sold 8,000 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $37.96, for a total transaction of $303,680.00. Following the transaction, the chief executive officer now owns 18,961 shares in the company, valued at approximately $719,759.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Flug sold 9,000 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $37.81, for a total transaction of $340,290.00. Following the transaction, the director now owns 3,240 shares in the company, valued at approximately $122,504.40. The disclosure for this sale can be found here. Insiders have sold a total of 155,744 shares of company stock valued at $5,657,896 in the last three months. Company insiders own 34.91% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SHAK. California State Teachers Retirement System raised its position in Shake Shack by 25.9% in the second quarter. California State Teachers Retirement System now owns 38,934 shares of the company’s stock worth $1,358,000 after buying an additional 8,000 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Shake Shack by 35.4% in the second quarter. The Manufacturers Life Insurance Company now owns 17,467 shares of the company’s stock worth $610,000 after buying an additional 4,566 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Shake Shack by 125.5% in the second quarter. Cubist Systematic Strategies LLC now owns 17,468 shares of the company’s stock worth $609,000 after buying an additional 9,721 shares during the last quarter. State Street Corp raised its position in shares of Shake Shack by 22.9% in the second quarter. State Street Corp now owns 436,498 shares of the company’s stock worth $15,224,000 after buying an additional 81,392 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of Shake Shack by 18.9% in the second quarter. Macquarie Group Ltd. now owns 844,390 shares of the company’s stock worth $29,452,000 after buying an additional 134,386 shares during the last quarter. 97.46% of the stock is currently owned by institutional investors and hedge funds.
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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