Shake Shack (NYSE:SHAK) Hits New 12-Month High After Analyst Upgrade

Shake Shack Inc. (NYSE:SHAK)’s share price hit a new 52-week high during mid-day trading on Monday after Oppenheimer raised their price target on the stock from $122.00 to $135.00. Oppenheimer currently has an outperform rating on the stock. Shake Shack traded as high as $114.44 and last traded at $113.28, with a volume of 61393 shares traded. The stock had previously closed at $110.45.

Several other equities analysts have also recently issued reports on SHAK. Bank of America upped their target price on shares of Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. The Goldman Sachs Group lifted their target price on shares of Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 price target (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. TD Cowen reiterated a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a research report on Wednesday, September 18th. Finally, Morgan Stanley dropped their target price on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $108.50.

Insiders Place Their Bets

In related 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 transaction, the director now owns 3,347 shares of the company’s stock, valued at $302,535.33. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $1,102,400.00. Following the transaction, the director now directly owns 470,437 shares in the company, valued at approximately $51,860,974.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $90.39, for a total transaction of $27,478.56. Following the transaction, the director now directly owns 3,347 shares in the company, valued at approximately $302,535.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,330 shares of company stock worth $2,429,690 in the last three months. Corporate insiders own 9.73% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Shake Shack during the first quarter worth about $25,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Shake Shack during the 3rd quarter worth approximately $41,000. Quest Partners LLC acquired a new position in Shake Shack during the 2nd quarter valued at approximately $38,000. Kimelman & Baird LLC purchased a new position in shares of Shake Shack in the second quarter worth $45,000. Finally, Covestor Ltd raised its holdings in shares of Shake Shack by 32,150.0% in the first quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after buying an additional 643 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Up 3.1 %

The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average price is $104.82 and its 200 day moving average price is $98.10. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 179.84, a P/E/G ratio of 3.23 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The firm had revenue of $316.50 million during the quarter, compared to the consensus estimate of $314.37 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue was up 16.4% compared to the same quarter last year. As a group, research analysts forecast that Shake Shack Inc. will post 0.74 earnings per share for the current fiscal year.

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.