Shake Shack, Inc. (SHAK) Upgraded to Hold at BidaskClub
Shake Shack, Inc. (NYSE:SHAK) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday.
Other analysts also recently issued research reports about the company. Wedbush downgraded Shake Shack from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $40.00 to $36.00 in a report on Tuesday, September 26th. Barclays PLC lowered their target price on Shake Shack from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, August 4th. SunTrust Banks, Inc. reissued a “buy” rating on shares of Shake Shack in a report on Monday, August 21st. Vetr raised shares of Shake Shack from a “buy” rating to a “strong-buy” rating and set a $42.33 target price on the stock in a research note on Wednesday, June 14th. Finally, Cowen and Company restated a “hold” rating and set a $35.00 price target on shares of Shake Shack in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Shake Shack currently has a consensus rating of “Hold” and an average target price of $37.26.
Shake Shack (NYSE:SHAK) traded down 0.75% during mid-day trading on Tuesday, hitting $33.14. The stock had a trading volume of 419,807 shares. Shake Shack has a one year low of $30.52 and a one year high of $39.70. The company has a 50 day moving average price of $32.37 and a 200 day moving average price of $32.37. The stock has a market cap of $861.01 million, a P/E ratio of 57.74 and a beta of 1.33.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.04. The business had revenue of $91.30 million during the quarter, compared to the consensus estimate of $89.00 million. Shake Shack had a return on equity of 8.71% and a net margin of 4.70%. The business’s quarterly revenue was up 37.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. On average, equities analysts anticipate that Shake Shack will post $0.51 EPS for the current year.
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In related news, CEO Randall J. Garutti sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $34.82, for a total transaction of $557,120.00. Following the completion of the sale, the chief executive officer now directly owns 26,961 shares in the company, valued at $938,782.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Flug sold 39,619 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $31.40, for a total transaction of $1,244,036.60. Following the sale, the director now owns 4,415 shares of the company’s stock, valued at $138,631. The disclosure for this sale can be found here. Insiders have sold 150,452 shares of company stock worth $4,779,481 in the last quarter. 34.91% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in SHAK. FNY Partners Fund LP purchased a new stake in Shake Shack in the 1st quarter worth approximately $100,000. BNP Paribas Arbitrage SA boosted its stake in shares of Shake Shack by 206.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,666 shares of the company’s stock valued at $122,000 after buying an additional 2,469 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Shake Shack by 109.7% during the 1st quarter. Victory Capital Management Inc. now owns 3,715 shares of the company’s stock valued at $124,000 after acquiring an additional 1,943 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Shake Shack by 85.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,630 shares of the company’s stock valued at $126,000 after acquiring an additional 1,670 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Shake Shack during the 1st quarter valued at $137,000. Institutional investors own 82.30% of the company’s stock.
About Shake Shack
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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