Shake Shack, Inc. (SHAK) Earns Hold Rating from Wedbush
Shake Shack, Inc. (NYSE:SHAK)‘s stock had its “hold” rating reiterated by equities researchers at Wedbush in a research note issued to investors on Thursday. They currently have a $36.00 target price on the stock. Wedbush’s target price would suggest a potential downside of 5.16% from the company’s previous close.
SHAK has been the topic of a number of other reports. SunTrust Banks, Inc. reiterated a “buy” rating and set a $48.00 price target on shares of Shake Shack in a report on Thursday, October 12th. Zacks Investment Research lowered Shake Shack from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. BidaskClub upgraded Shake Shack from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. TheStreet upgraded Shake Shack from a “d” rating to a “c-” rating in a research note on Thursday, August 3rd. Finally, Cowen and Company restated a “hold” rating and issued a $35.00 target price on shares of Shake Shack in a research note on Tuesday, September 12th. Two research 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 stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.19.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The business had revenue of $94.60 million for the quarter, compared to analyst estimates of $94.17 million. Shake Shack had a return on equity of 8.71% and a net margin of 4.70%. Shake Shack’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share.
In related news, CEO Randall J. Garutti sold 8,000 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $31.12, for a total transaction of $248,960.00. Following the completion of the transaction, the chief executive officer now directly owns 18,961 shares in the company, valued at $590,066.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey Flug sold 39,619 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $31.40, for a total value of $1,244,036.60. Following the transaction, 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. Over the last quarter, insiders have sold 142,452 shares of company stock worth $4,507,321. 34.91% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of SHAK. Select Equity Group L.P. purchased a new position in Shake Shack during the fourth quarter worth about $96,511,000. FMR LLC grew its position in Shake Shack by 150.7% during the first quarter. FMR LLC now owns 2,473,147 shares of the company’s stock worth $82,603,000 after buying an additional 1,486,647 shares in the last quarter. 12 West Capital Management LP purchased a new position in Shake Shack during the fourth quarter worth about $34,418,000. Jennison Associates purchased a new position in Shake Shack during the third quarter worth about $40,526,000. Finally, Morgan Stanley grew its position in Shake Shack by 30.7% during the first quarter. Morgan Stanley now owns 3,179,116 shares of the company’s stock worth $106,183,000 after buying an additional 747,486 shares in the last quarter. Institutional investors and hedge funds own 83.92% of the company’s stock.
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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