Truist Financial Issues Positive Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its price objective lifted by Truist Financial from $127.00 to $144.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 18.35% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Capital One Financial assumed coverage on shares of Shake Shack in a research report on Monday, July 29th. They issued an “overweight” rating and a $95.00 price target for the company. Barclays raised their price target on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday. Wedbush reiterated a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $115.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. Finally, Bank of America upped their price target on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $110.00.

Shake Shack Stock Down 0.7 %

SHAK opened at $121.67 on Friday. Shake Shack has a 1-year low of $54.06 and a 1-year high of $130.20. The firm’s 50 day simple moving average is $105.57 and its two-hundred day simple moving average is $98.49. The company has a current ratio of 2.01, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $5.17 billion, a PE ratio of 715.71, a PEG ratio of 3.58 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. As a group, equities analysts forecast that Shake Shack will post 0.74 EPS for the current year.

Insider Activity

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the completion of the transaction, the director now directly owns 470,437 shares of the company’s stock, valued at $51,860,974.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jeffrey Flug sold 304 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the sale, the director now directly owns 3,347 shares in the company, valued at approximately $302,535.33. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00. Following the transaction, the director now owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,367 shares of company stock valued at $2,337,213. 9.73% of the stock is currently owned by insiders.

Institutional Trading of Shake Shack

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new position in Shake Shack in the 1st quarter worth about $25,000. Quest Partners LLC purchased a new position in shares of Shake Shack during the second quarter worth approximately $38,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Shake Shack in the third quarter valued at approximately $41,000. Kimelman & Baird LLC bought a new position in Shake Shack in the second quarter worth approximately $45,000. Finally, Covestor Ltd increased its holdings in Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares during the period. 86.07% of the stock is currently owned by institutional investors.

About Shake Shack

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.