Shake Shack (NYSE:SHAK) Downgraded to Hold Rating by TD Cowen

Shake Shack (NYSE:SHAK) was downgraded by research analysts at TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Monday,Finviz reports. They currently have a $105.00 price target on the stock. TD Cowen’s price objective suggests a potential downside of 11.93% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. UBS Group decreased their target price on shares of Shake Shack from $140.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Raymond James reaffirmed a “strong-buy” rating and set a $140.00 target price (down previously from $145.00) on shares of Shake Shack in a research note on Friday, May 2nd. Truist Financial raised their target price on shares of Shake Shack from $134.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday. Wedbush raised their target price on shares of Shake Shack from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Finally, Oppenheimer decreased their target price on shares of Shake Shack from $155.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.40.

Shake Shack Stock Performance

Shares of SHAK opened at $119.23 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. Shake Shack has a one year low of $72.93 and a one year high of $139.89. The company has a 50-day simple moving average of $91.21 and a two-hundred day simple moving average of $111.03. The firm has a market capitalization of $5.09 billion, a PE ratio of 518.39 and a beta of 1.61.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The business had revenue of $320.90 million for the quarter, compared to the consensus estimate of $330.24 million. During the same period in the prior year, the business posted $0.13 EPS. Shake Shack’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts anticipate that Shake Shack will post 1.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Shake Shack

A number of large investors have recently added to or reduced their stakes in SHAK. Farther Finance Advisors LLC grew its position in Shake Shack by 939.3% in the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company’s stock worth $26,000 after purchasing an additional 263 shares during the period. Nemes Rush Group LLC bought a new stake in Shake Shack in the 4th quarter worth approximately $29,000. Harvest Fund Management Co. Ltd bought a new stake in Shake Shack in the 4th quarter worth approximately $32,000. Garde Capital Inc. bought a new stake in Shake Shack in the 1st quarter worth approximately $35,000. Finally, Princeton Global Asset Management LLC bought a new stake in Shake Shack in the 1st quarter worth approximately $44,000. Institutional investors own 86.07% of the company’s stock.

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.