Shake Shack’s (SHAK) “Strong-Buy” Rating Reaffirmed at Raymond James

Raymond James reiterated their strong-buy rating on shares of Shake Shack (NYSE:SHAK) in a report published on Friday,Benzinga reports. The brokerage currently has a $140.00 target price on the stock, down from their prior target price of $145.00.

A number of other equities analysts also recently commented on SHAK. Robert W. Baird lifted their price objective on shares of Shake Shack from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday. TD Securities reaffirmed a “buy” rating and set a $105.00 price objective on shares of Shake Shack in a research report on Thursday. Wedbush raised their target price on shares of Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Loop Capital upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company started coverage on Shake Shack in a report on Wednesday, March 26th. They issued an “equal weight” rating and a $95.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.71.

Shake Shack Price Performance

SHAK opened at $94.51 on Friday. The company has a market capitalization of $4.02 billion, a P/E ratio of 410.91 and a beta of 1.61. The company has a 50-day moving average of $89.28 and a 200-day moving average of $111.34. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 1.97. Shake Shack has a 1-year low of $72.93 and a 1-year high of $139.89.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The firm had revenue of $320.90 million during the quarter, compared to the consensus estimate of $330.24 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities analysts expect that Shake Shack will post 1.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Shake Shack

Several hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its holdings in Shake Shack by 939.3% during the first quarter. Farther Finance Advisors LLC now owns 291 shares of the company’s stock worth $26,000 after buying an additional 263 shares in the last quarter. Nemes Rush Group LLC bought a new stake in shares of Shake Shack during the 4th quarter worth $29,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Shake Shack in the 4th quarter worth $32,000. Garde Capital Inc. acquired a new stake in shares of Shake Shack during the first quarter worth $35,000. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Shake Shack during the first quarter valued at $44,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.