Cowen and Company Boosts Shake Shack, Inc. (SHAK) Price Target to $36.00
Shake Shack, Inc. (NYSE:SHAK) had its price target upped by research analysts at Cowen and Company from $35.00 to $36.00 in a research report issued on Thursday. The brokerage currently has a “market perform” rating on the stock. Cowen and Company’s price target suggests a potential downside of 5.16% from the stock’s current price.
SHAK has been the topic of several other research reports. Wedbush reissued a “buy” rating on shares of Shake Shack in a research note on Thursday, August 17th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $48.00 price target on shares of Shake Shack in a research note on Thursday, October 12th. TheStreet raised Shake Shack from a “d” rating to a “c-” rating in a research note on Thursday, August 3rd. Zacks Investment Research downgraded Shake Shack from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, BidaskClub raised Shake Shack from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.28.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The business had revenue of $94.60 million for the quarter, compared to the consensus estimate of $94.17 million. Shake Shack had a return on equity of 8.71% and a net margin of 4.70%. The firm’s revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS.
In other news, Director Jeffrey Flug sold 4,800 shares of Shake Shack stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $30.96, for a total value of $148,608.00. Following the completion of the sale, the director now directly owns 4,415 shares in the company, valued at $136,688.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Equity Group L.P. Select sold 19,452 shares of Shake Shack stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $32.01, for a total transaction of $622,658.52. The disclosure for this sale can be found here. Insiders have sold 142,452 shares of company stock valued at $4,507,321 over the last 90 days. Company insiders own 34.91% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in shares of Shake Shack by 4.6% in the second quarter. Ameriprise Financial Inc. now owns 108,715 shares of the company’s stock valued at $3,792,000 after buying an additional 4,764 shares in the last quarter. Brighton Jones LLC acquired a new stake in shares of Shake Shack in the second quarter valued at approximately $425,000. Arizona State Retirement System acquired a new stake in shares of Shake Shack in the first quarter valued at approximately $311,000. Thrivent Financial For Lutherans acquired a new stake in shares of Shake Shack in the first quarter valued at approximately $333,000. Finally, FMR LLC raised its position in shares of Shake Shack by 5.7% in the second quarter. FMR LLC now owns 2,615,287 shares of the company’s stock valued at $91,221,000 after buying an additional 142,140 shares in the last quarter. Institutional investors own 83.92% 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.
Receive News & Ratings for Shake Shack Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shake Shack Inc. and related companies with MarketBeat.com's FREE daily email newsletter.