Shake Shack (NYSE:SHAK) Price Target Raised to $127.00

Shake Shack (NYSE:SHAK) had its target price lifted by Truist Financial from $125.00 to $127.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on SHAK. The Goldman Sachs Group began coverage on Shake Shack in a research note on Thursday, June 13th. They issued a buy rating and a $110.00 price target for the company. BTIG Research increased their price objective on shares of Shake Shack from $120.00 to $125.00 and gave the company a buy rating in a report on Monday, May 6th. Capital One Financial began coverage on shares of Shake Shack in a report on Monday, July 29th. They issued an overweight rating and a $95.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Shake Shack from $102.00 to $105.00 and gave the company an underweight rating in a report on Monday, June 3rd. Finally, TD Cowen reaffirmed a buy rating and issued a $125.00 price target on shares of Shake Shack in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shake Shack presently has a consensus rating of Hold and a consensus target price of $104.83.

Shake Shack Stock Down 2.7 %

SHAK stock traded down $2.58 during midday trading on Friday, hitting $93.85. The company’s stock had a trading volume of 862,106 shares, compared to its average volume of 951,837. The company has a market cap of $3.97 billion, a PE ratio of 175.33, a P/E/G ratio of 2.73 and a beta of 1.75. The company has a current ratio of 2.06, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average is $88.86 and its 200-day moving average is $93.42. Shake Shack has a 12 month low of $52.79 and a 12 month high of $111.29.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. The business had revenue of $316.50 million during the quarter, compared to analyst estimates of $314.37 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. On average, equities research analysts forecast that Shake Shack will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of Shake Shack

A number of institutional investors and hedge funds have recently modified their holdings of SHAK. Raymond James & Associates increased its stake in shares of Shake Shack by 53.7% during the fourth quarter. Raymond James & Associates now owns 73,771 shares of the company’s stock worth $5,468,000 after purchasing an additional 25,761 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in Shake Shack by 8.0% in the 4th quarter. DAVENPORT & Co LLC now owns 10,739 shares of the company’s stock valued at $796,000 after purchasing an additional 800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Shake Shack by 7.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,606 shares of the company’s stock valued at $1,305,000 after purchasing an additional 1,251 shares during the last quarter. RFG Advisory LLC boosted its holdings in Shake Shack by 10.3% in the 4th quarter. RFG Advisory LLC now owns 4,401 shares of the company’s stock valued at $326,000 after purchasing an additional 412 shares during the last quarter. Finally, RPG Investment Advisory LLC boosted its holdings in Shake Shack by 1.2% in the 4th quarter. RPG Investment Advisory LLC now owns 121,301 shares of the company’s stock valued at $8,991,000 after purchasing an additional 1,411 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

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.