Shake Shack (NYSE:SHAK) Price Target Raised to $149.00 at Truist Financial

Shake Shack (NYSE:SHAK) had its target price hoisted by Truist Financial from $147.00 to $149.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. UBS Group upped their price target on shares of Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday. TD Cowen reaffirmed a “buy” rating and set a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Oppenheimer upped their price target on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $125.00 to $159.00 in a report on Tuesday. Finally, 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 report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $122.59.

Shake Shack Stock Performance

NYSE SHAK opened at $132.62 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $5.63 billion, a P/E ratio of 780.12, a P/E/G ratio of 2.83 and a beta of 1.86. Shake Shack has a 12-month low of $64.16 and a 12-month high of $139.89. The firm has a 50-day moving average price of $129.82 and a two-hundred day moving average price of $109.73.

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

Insider Buying and Selling at Shake Shack

In other news, Director Daniel Harris Meyer sold 22,691 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the completion of the sale, the director now directly owns 437,646 shares in the company, valued at $54,473,797.62. This represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Katherine Irene Fogertey sold 642 shares of the 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 owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,333 shares of company stock worth $6,566,330. 9.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Shake Shack

A number of large investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in Shake Shack by 3.5% in the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock worth $149,937,000 after purchasing an additional 49,324 shares during the period. Holocene Advisors LP grew its holdings in Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after purchasing an additional 384,131 shares during the period. Geode Capital Management LLC grew its holdings in Shake Shack by 3.1% in the third quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock worth $90,470,000 after purchasing an additional 26,620 shares during the period. Dimensional Fund Advisors LP grew its holdings in Shake Shack by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock worth $72,088,000 after purchasing an additional 66,090 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in Shake Shack by 154.8% in the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after purchasing an additional 395,311 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.