Shake Shack’s (SHAK) “Buy” Rating Reiterated at SunTrust Banks, Inc.
Shake Shack, Inc. (NYSE:SHAK)‘s stock had its “buy” rating restated by stock analysts at SunTrust Banks, Inc. in a note issued to investors on Friday. They presently have a $50.00 price objective on the stock. SunTrust Banks, Inc.’s target price points to a potential upside of 35.21% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on SHAK. Morgan Stanley lifted their price objective on shares of Shake Shack from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday. Cowen and Company lifted their price objective on shares of Shake Shack from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday. Wedbush restated a “hold” rating and set a $36.00 price objective on shares of Shake Shack in a research note on Thursday. Barclays PLC lifted their price objective on shares of Shake Shack from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, BidaskClub upgraded shares of Shake Shack from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Shake Shack currently has an average rating of “Hold” and an average price target of $37.61.
Shake Shack (NYSE:SHAK) opened at $36.98 on Friday. The firm has a market cap of $1,317.93, a price-to-earnings ratio of 64.11, a price-to-earnings-growth ratio of 3.10 and a beta of 1.39.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Shake Shack had a net margin of 4.78% and a return on equity of 9.65%. The business had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $94.17 million. During the same period in the previous year, the business earned $0.15 earnings per share. The company’s revenue was up 26.8% on a year-over-year basis. equities research analysts predict that Shake Shack will post 0.52 EPS for the current fiscal year.
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In related news, Director Jeffrey Flug sold 4,800 shares of Shake Shack stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $30.96, for a total value of $148,608.00. Following the transaction, the director now owns 4,415 shares of the company’s stock, valued at approximately $136,688.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Equity Group L.P. Select sold 19,452 shares of Shake Shack stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $32.01, for a total value of $622,658.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,452 shares of company stock worth $4,507,321. 34.91% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its stake in Shake Shack by 85.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,630 shares of the company’s stock worth $126,000 after purchasing an additional 1,670 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Shake Shack in the 1st quarter worth about $137,000. Teachers Retirement System of The State of Kentucky purchased a new position in Shake Shack in the 1st quarter worth about $137,000. US Bancorp DE increased its stake in Shake Shack by 34.1% in the 2nd quarter. US Bancorp DE now owns 4,111 shares of the company’s stock worth $143,000 after purchasing an additional 1,046 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Shake Shack by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,371 shares of the company’s stock worth $152,000 after purchasing an additional 656 shares in the last quarter. 83.92% of the stock is currently owned by hedge funds and other institutional investors.
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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