Shake Shack (NYSE:SHAK) Price Target Raised to $148.00

Shake Shack (NYSE:SHAK) had its price target increased by Truist Financial from $144.00 to $148.00 in a report released on Monday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently weighed in on the company. Barclays dropped their price target on Shake Shack from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. TD Cowen boosted their price target on Shake Shack from $100.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, February 26th. Zacks Research downgraded shares of Shake Shack from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Shake Shack in a research report on Tuesday, November 25th. Finally, Morgan Stanley upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $115.00 to $125.00 in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $116.15.

Shake Shack Stock Performance

Shares of SHAK stock opened at $97.30 on Monday. The stock has a 50 day simple moving average of $91.84 and a 200-day simple moving average of $92.48. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 89.27, a price-to-earnings-growth ratio of 5.15 and a beta of 1.73. The company has a current ratio of 1.76, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Shake Shack has a 12-month low of $72.93 and a 12-month high of $144.65.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, February 26th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $400.53 million during the quarter, compared to the consensus estimate of $402.06 million. Shake Shack had a return on equity of 11.08% and a net margin of 3.16%.Shake Shack’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. On average, equities analysts forecast that Shake Shack will post 1.26 EPS for the current year.

Hedge Funds Weigh In On Shake Shack

Several large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Shake Shack by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,627 shares of the company’s stock worth $1,995,000 after purchasing an additional 976 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Shake Shack by 4,210.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,500 shares of the company’s stock worth $220,000 after acquiring an additional 2,442 shares during the period. United Services Automobile Association bought a new position in Shake Shack during the 1st quarter valued at $219,000. Geneos Wealth Management Inc. bought a new position in Shake Shack during the first quarter valued at about $26,000. Finally, AlphaQuest LLC boosted its position in shares of Shake Shack by 394.7% during the 2nd quarter. AlphaQuest LLC now owns 1,296 shares of the company’s stock valued at $182,000 after purchasing an additional 1,034 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

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.