Shake Shack’s (SHAK) Hold Rating Reaffirmed at Loop Capital

Shake Shack (NYSE:SHAK)‘s stock had its “hold” rating reissued by equities research analysts at Loop Capital in a research note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $127.00 price target on the stock. Loop Capital’s target price points to a potential downside of 9.62% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus cut their price target on shares of Shake Shack from $120.00 to $97.00 and set a “hold” rating on the stock in a research note on Tuesday, April 15th. KeyCorp assumed coverage on shares of Shake Shack in a research report on Monday, June 2nd. They set a “sector weight” rating on the stock. Bank of America raised their price objective on shares of Shake Shack from $112.00 to $134.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 25th. BTIG Research downgraded shares of Shake Shack from a “buy” rating to a “neutral” rating in a research report on Monday, June 2nd. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $140.00 price objective (down from $145.00) on shares of Shake Shack in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Shake Shack has an average rating of “Hold” and an average price target of $124.90.

Shake Shack Price Performance

Shares of SHAK opened at $140.52 on Tuesday. Shake Shack has a twelve month low of $72.93 and a twelve month high of $142.85. The firm’s fifty day simple moving average is $123.87 and its 200-day simple moving average is $111.34. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 501.86, a PEG ratio of 3.29 and a beta of 1.77. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.50.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The company had revenue of $320.90 million for the quarter, compared to analyst estimates of $330.24 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. Shake Shack’s revenue was up 10.5% compared to the same quarter last year. Equities analysts forecast that Shake Shack will post 1.26 EPS for the current fiscal year.

Insider Transactions at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 14,200 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $140.31, for a total transaction of $1,992,402.00. Following the transaction, the director directly owned 337,984 shares in the company, valued at approximately $47,422,535.04. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 670 shares of the company’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $140.03, for a total transaction of $93,820.10. Following the transaction, the chief financial officer owned 32,495 shares in the company, valued at $4,550,274.85. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,391 shares of company stock worth $11,869,925. 9.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHAK. Charles Schwab Investment Management Inc. grew its position in Shake Shack by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company’s stock worth $46,979,000 after buying an additional 8,429 shares during the period. Proficio Capital Partners LLC acquired a new position in Shake Shack during the fourth quarter worth about $5,105,000. Arizona State Retirement System grew its position in shares of Shake Shack by 1.7% in the fourth quarter. Arizona State Retirement System now owns 11,024 shares of the company’s stock valued at $1,431,000 after purchasing an additional 182 shares during the last quarter. Amundi grew its position in shares of Shake Shack by 141.0% in the fourth quarter. Amundi now owns 23,896 shares of the company’s stock valued at $3,174,000 after purchasing an additional 13,982 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Shake Shack by 18.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,234 shares of the company’s stock valued at $1,328,000 after purchasing an additional 1,561 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.