Shake Shack’s (SHAK) Underweight Rating Reaffirmed at JPMorgan Chase & Co.

Shake Shack (NYSE:SHAK)‘s stock had its “underweight” rating restated by equities research analysts at JPMorgan Chase & Co. in a research note issued on Tuesday, Benzinga reports. They presently have a $102.00 target price on the stock, down from their prior target price of $105.00. JPMorgan Chase & Co.‘s price objective points to a potential downside of 3.55% from the company’s current price.

A number of other analysts have also recently commented on the stock. Truist Financial restated a “buy” rating and set a $127.00 target price on shares of Shake Shack in a report on Wednesday, August 28th. Capital One Financial started coverage on shares of Shake Shack in a report on Monday, July 29th. They set an “overweight” rating and a $95.00 target price on the stock. TD Cowen restated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Wedbush restated a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a report on Thursday, August 1st. Finally, Bank of America lifted their price target on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $107.39.

Shake Shack Stock Up 1.5 %

Shares of Shake Shack stock opened at $105.75 on Tuesday. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 192.28, a P/E/G ratio of 3.20 and a beta of 1.83. The company’s 50 day moving average price is $98.41 and its 200-day moving average price is $97.48. Shake Shack has a 52-week low of $52.79 and a 52-week high of $111.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The business had revenue of $316.50 million for the quarter, compared to analysts’ expectations of $314.37 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. Equities research analysts forecast that Shake Shack will post 0.73 EPS for the current year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 470,437 shares in the company, valued at approximately $51,860,974.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $51,860,974.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Katherine Irene Fogertey sold 963 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total transaction of $92,476.89. Following the completion of the transaction, the chief financial officer now owns 37,464 shares in the company, valued at approximately $3,597,667.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,213 shares of company stock worth $1,311,175. Company insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Several institutional investors have recently made changes to their positions in SHAK. Norges Bank bought a new position in shares of Shake Shack in the 4th quarter worth approximately $12,238,000. Capstone Investment Advisors LLC lifted its stake in shares of Shake Shack by 52.0% in the 4th quarter. Capstone Investment Advisors LLC now owns 16,993 shares of the company’s stock worth $1,260,000 after purchasing an additional 5,817 shares during the period. Madison Asset Management LLC lifted its stake in shares of Shake Shack by 52.6% in the 4th quarter. Madison Asset Management LLC now owns 84,062 shares of the company’s stock worth $6,231,000 after purchasing an additional 28,975 shares during the period. Blueshift Asset Management LLC purchased a new stake in Shake Shack in the 4th quarter worth approximately $408,000. Finally, Armistice Capital LLC purchased a new stake in Shake Shack in the 4th quarter worth approximately $11,213,000. 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.