Shake Shack (NYSE:SHAK) Cut to Hold at Truist Financial

Truist Financial downgraded shares of Shake Shack (NYSE:SHAK) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

SHAK has been the subject of several other reports. Morgan Stanley upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $115.00 to $125.00 in a research report on Tuesday, January 20th. Loop Capital upgraded Shake Shack from a “hold” rating to a “buy” rating and upped their price objective for the stock from $98.00 to $127.00 in a research note on Friday, November 14th. JPMorgan Chase & Co. raised Shake Shack from an “underweight” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $90.00 in a report on Thursday, December 18th. UBS Group cut their price target on Shake Shack from $140.00 to $104.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Finally, Mizuho raised Shake Shack to a “hold” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Shake Shack presently has an average rating of “Hold” and an average price target of $116.52.

Shake Shack Stock Down 1.6%

SHAK stock opened at $92.94 on Tuesday. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 91.12, a P/E/G ratio of 2.89 and a beta of 1.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.84. The business’s 50-day moving average is $87.60 and its two-hundred day moving average is $96.31. Shake Shack has a fifty-two week low of $72.93 and a fifty-two week high of $144.65.

Insider Activity at Shake Shack

In related news, insider Stephanie Ann Sentell sold 1,100 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $85.14, for a total transaction of $93,654.00. Following the completion of the sale, the insider owned 9,907 shares in the company, valued at approximately $843,481.98. This trade represents a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 1,500 shares of company stock valued at $130,648 in the last quarter. 8.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Shake Shack

A number of institutional investors have recently added to or reduced their stakes in the stock. White Pine Capital LLC boosted its position in shares of Shake Shack by 2.0% during the second quarter. White Pine Capital LLC now owns 4,981 shares of the company’s stock worth $700,000 after acquiring an additional 100 shares during the last quarter. Glenview Trust co boosted its holdings in shares of Shake Shack by 1.5% during the 2nd quarter. Glenview Trust co now owns 6,925 shares of the company’s stock valued at $974,000 after purchasing an additional 100 shares during the last quarter. Keybank National Association OH grew its position in shares of Shake Shack by 1.8% during the second quarter. Keybank National Association OH now owns 6,079 shares of the company’s stock valued at $855,000 after purchasing an additional 106 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Shake Shack by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 964 shares of the company’s stock worth $91,000 after purchasing an additional 107 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Shake Shack by 3.2% in the second quarter. Ameritas Investment Partners Inc. now owns 3,972 shares of the company’s stock worth $558,000 after buying an additional 125 shares in the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

Shake Shack Company Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.