Shake Shack, Inc. (NYSE:SHAK) Receives Average Rating of “Moderate Buy” from Analysts

Shake Shack, Inc. (NYSE:SHAK) has earned a consensus rating of “Moderate Buy” from the twenty-seven ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $91.00.

A number of analysts have recently weighed in on the company. Wells Fargo & Company dropped their price objective on Shake Shack from $80.00 to $65.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. TD Cowen reiterated a “hold” rating and set a $70.00 price target on shares of Shake Shack in a report on Wednesday, June 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of Shake Shack in a research report on Friday, May 8th. BTIG Research reiterated a “neutral” rating on shares of Shake Shack in a report on Wednesday, May 20th. Finally, Barclays decreased their target price on Shake Shack from $118.00 to $96.00 and set an “overweight” rating for the company in a report on Friday, May 8th.

Shake Shack Trading Up 2.8%

NYSE SHAK opened at $56.76 on Friday. Shake Shack has a 1-year low of $51.60 and a 1-year high of $144.65. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $70.46 and a 200-day moving average of $83.48. The firm has a market cap of $2.43 billion, a PE ratio of 57.92, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63.

Insider Activity

In other news, Director Daniel Harris Meyer bought 32,258 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was purchased at an average price of $61.88 per share, with a total value of $1,996,125.04. Following the transaction, the director owned 378,670 shares of the company’s stock, valued at approximately $23,432,099.60. The trade was a 9.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Lynch acquired 5,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $60.39 per share, for a total transaction of $301,950.00. Following the acquisition, the chief executive officer owned 77,845 shares of the company’s stock, valued at approximately $4,701,059.55. This trade represents a 6.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 50,616 shares of company stock worth $3,109,782. Company insiders own 8.32% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

A number of large investors have recently added to or reduced their stakes in SHAK. Swedbank AB purchased a new position in Shake Shack in the fourth quarter worth about $84,092,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Shake Shack in the fourth quarter worth $40,829,000. Wellington Management Group LLP raised its position in shares of Shake Shack by 21.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,590,911 shares of the company’s stock valued at $242,535,000 after purchasing an additional 450,406 shares during the period. Marshall Wace LLP lifted its stake in shares of Shake Shack by 285.2% during the 3rd quarter. Marshall Wace LLP now owns 586,999 shares of the company’s stock valued at $54,949,000 after buying an additional 434,625 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Shake Shack during the 4th quarter valued at $20,455,000. 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.