Shake Shack, Inc. (SHAK) Price Target Increased to $36.00 by Analysts at Barclays PLC
Shake Shack, Inc. (NYSE:SHAK) had its price objective hoisted by Barclays PLC from $34.00 to $36.00 in a note issued to investors on Thursday. The brokerage currently has an “equal weight” rating on the stock. Barclays PLC’s price target would suggest a potential downside of 5.16% from the stock’s current price.
Other equities analysts also recently issued research reports about the company. Wedbush reaffirmed a “hold” rating and issued a $36.00 price objective on shares of Shake Shack in a research report on Thursday. Cowen and Company upped their price objective on Shake Shack from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday. Morgan Stanley upped their price objective on Shake Shack from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Thursday. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Shake Shack in a research report on Monday, August 21st. Finally, BidaskClub raised Shake Shack from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $37.44.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company 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%. Shake Shack’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 EPS.
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In related news, major shareholder Equity Group L.P. Select sold 19,452 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $32.01, for a total transaction of $622,658.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Flug sold 4,800 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $30.96, for a total value of $148,608.00. Following the sale, the director now owns 4,415 shares of the company’s stock, valued at $136,688.40. The disclosure for this sale can be found here. Insiders sold a total of 142,452 shares of company stock valued at $4,507,321 over the last quarter. Company insiders own 34.91% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SHAK. Russell Investments Group Ltd. lifted its stake in shares of Shake Shack by 16.6% during the 1st quarter. Russell Investments Group Ltd. now owns 7,429 shares of the company’s stock worth $248,000 after purchasing an additional 1,057 shares during the last quarter. Swiss National Bank lifted its stake in shares of Shake Shack by 5.8% during the 1st quarter. Swiss National Bank now owns 23,700 shares of the company’s stock worth $792,000 after purchasing an additional 1,300 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Shake Shack by 985.1% during the 1st quarter. Ameriprise Financial Inc. now owns 103,951 shares of the company’s stock worth $3,472,000 after purchasing an additional 94,371 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Shake Shack during the 1st quarter worth $1,087,000. Finally, Victory Capital Management Inc. lifted its stake 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 worth $124,000 after purchasing an additional 1,943 shares during the last quarter. Hedge funds and other 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.
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