Shake Shack (NYSE:SHAK) Given New $140.00 Price Target at UBS Group

Shake Shack (NYSE:SHAK) had its price target increased by equities researchers at UBS Group from $130.00 to $140.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential upside of 6.00% from the company’s previous close.

SHAK has been the topic of several other research reports. Truist Financial lifted their price target on Shake Shack from $144.00 to $147.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. TD Cowen reaffirmed a “buy” rating and set a $125.00 price target on shares of Shake Shack in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Oppenheimer lifted their price target on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $125.00 to $159.00 in a research report on Tuesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shake Shack currently has an average rating of “Hold” and an average price target of $120.50.

Shake Shack Price Performance

SHAK stock opened at $132.07 on Tuesday. The business has a 50 day moving average price of $129.23 and a 200 day moving average price of $109.27. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 776.88, a PEG ratio of 2.83 and a beta of 1.86. Shake Shack has a fifty-two week low of $64.16 and a fifty-two week high of $139.89. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share. Equities research analysts anticipate that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares in the company, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the sale, the director now owns 407,646 shares in the company, valued at approximately $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,333 shares of company stock valued at $6,566,330 over the last quarter. Company insiders own 9.73% of the company’s stock.

Institutional Trading of Shake Shack

A number of institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC lifted its position in shares of Shake Shack by 303.3% in the second quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock valued at $1,460,000 after acquiring an additional 12,487 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Shake Shack by 4.8% in the third quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock valued at $36,548,000 after acquiring an additional 16,097 shares in the last quarter. GDS Wealth Management purchased a new stake in shares of Shake Shack in the third quarter valued at $417,000. Charles Schwab Investment Management Inc. lifted its position in shares of Shake Shack by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 353,501 shares of the company’s stock valued at $36,485,000 after acquiring an additional 24,813 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Shake Shack by 3.6% in the third quarter. FMR LLC now owns 243,549 shares of the company’s stock valued at $25,137,000 after acquiring an additional 8,512 shares in the last quarter. 86.07% of the stock is currently owned by hedge funds and other 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.