Shake Shack (NYSE:SHAK) was upgraded by equities research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report issued on Thursday, Marketbeat.com reports. The firm presently has a $34.00 target price on the stock, down from their prior target price of $43.04. Morgan Stanley’s target price indicates a potential downside of 24.56% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Shake Shack from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. SunTrust Banks restated a “buy” rating and set a $48.00 price objective on shares of Shake Shack in a research report on Thursday, October 12th. Wedbush restated a “buy” rating on shares of Shake Shack in a research report on Thursday, August 17th. Barclays upped their price objective on shares of Shake Shack from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Finally, Cowen restated a “hold” rating and set a $35.00 price objective on shares of Shake Shack in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $37.33.

Shake Shack (NYSE SHAK) traded up $3.29 during mid-day trading on Thursday, reaching $45.07. 1,665,714 shares of the company traded hands, compared to its average volume of 719,712. Shake Shack has a 1 year low of $30.12 and a 1 year high of $45.76. The stock has a market cap of $1,554.00, a P/E ratio of 75.55, a price-to-earnings-growth ratio of 3.66 and a beta of 1.43.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. Shake Shack had a net margin of 4.78% and a return on equity of 9.42%. The firm had revenue of $94.60 million during the quarter, compared to the consensus estimate of $94.17 million. During the same quarter in the prior year, the firm earned $0.15 EPS. Shake Shack’s revenue for the quarter was up 26.8% on a year-over-year basis. sell-side analysts predict that Shake Shack will post 0.52 EPS for the current fiscal year.

In other news, CEO Randall J. Garutti sold 8,000 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $35.62, for a total value of $284,960.00. Following the completion of the transaction, the chief executive officer now owns 18,961 shares in the company, valued at approximately $675,390.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan D. Sokoloff sold 522,867 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $40.32, for a total transaction of $21,081,997.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 748,566 shares of company stock valued at $29,047,300. 34.91% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. increased its holdings in shares of Shake Shack by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 15,588 shares of the company’s stock valued at $544,000 after purchasing an additional 41 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Shake Shack by 6.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,380 shares of the company’s stock valued at $153,000 after purchasing an additional 280 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Shake Shack by 4.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the company’s stock valued at $265,000 after purchasing an additional 300 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Shake Shack by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 101,162 shares of the company’s stock valued at $3,529,000 after purchasing an additional 320 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Shake Shack by 4.3% in the 2nd quarter. Arizona State Retirement System now owns 9,700 shares of the company’s stock valued at $338,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

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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.

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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