Shake Shack (NYSE:SHAK) Stock Rating Reaffirmed by TD Cowen

TD Cowen reiterated their buy rating on shares of Shake Shack (NYSE:SHAK) in a report issued on Thursday, Benzinga reports. TD Cowen currently has a $125.00 target price on the stock.

Several other research firms also recently commented on SHAK. StockNews.com downgraded Shake Shack from a hold rating to a sell rating in a research note on Monday, March 4th. Robert W. Baird raised their price target on shares of Shake Shack from $67.00 to $82.00 and gave the stock a neutral rating in a research note on Tuesday, February 13th. BTIG Research upped their price objective on shares of Shake Shack from $110.00 to $120.00 and gave the company a buy rating in a research note on Thursday, March 14th. Oppenheimer raised their target price on shares of Shake Shack from $108.00 to $120.00 and gave the stock an outperform rating in a research note on Friday, March 22nd. Finally, Wedbush restated a neutral rating and issued a $80.00 price target on shares of Shake Shack in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shake Shack currently has a consensus rating of Hold and an average price target of $96.33.

Shake Shack Price Performance

SHAK traded up $2.54 during midday trading on Thursday, hitting $107.48. 998,226 shares of the company traded hands, compared to its average volume of 952,318. The business has a 50 day simple moving average of $102.37 and a two-hundred day simple moving average of $80.42. Shake Shack has a 52-week low of $52.79 and a 52-week high of $110.90. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 233.65, a PEG ratio of 3.72 and a beta of 1.78. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.52.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The firm had revenue of $290.50 million for the quarter, compared to analyst estimates of $291.00 million. During the same period last year, the company posted ($0.01) EPS. Shake Shack’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts forecast that Shake Shack will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 23,966 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $100.13, for a total value of $2,399,715.58. Following the sale, the director now owns 526,471 shares in the company, valued at approximately $52,715,541.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $103.01, for a total transaction of $31,315.04. Following the sale, the director now owns 3,754 shares in the company, valued at approximately $386,699.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 23,966 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the completion of the sale, the director now directly owns 526,471 shares in the company, valued at approximately $52,715,541.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,760 shares of company stock valued at $10,190,420. Company insiders own 10.06% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Several institutional investors have recently modified their holdings of SHAK. Allspring Global Investments Holdings LLC purchased a new position in Shake Shack in the first quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new position in shares of Shake Shack in the 4th quarter valued at $32,000. Ramirez Asset Management Inc. acquired a new stake in Shake Shack during the 3rd quarter worth $35,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Shake Shack in the first quarter valued at $97,000. Finally, C M Bidwell & Associates Ltd. boosted its stake in Shake Shack by 122.6% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock valued at $65,000 after acquiring an additional 612 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 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.