Shake Shack (NYSE:SHAK) Raised to Overweight at Barclays

Shake Shack (NYSE:SHAK) was upgraded by investment analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a $159.00 price target on the stock, up from their prior price target of $125.00. Barclays‘s price target would indicate a potential upside of 19.89% from the company’s current price.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price objective (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. TD Cowen restated a “buy” rating and set a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Truist Financial boosted their price objective on shares of Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Oppenheimer increased their target price on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $122.59.

Shake Shack Stock Up 0.4 %

SHAK stock opened at $132.62 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The firm 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 52-week low of $64.16 and a 52-week high of $139.89. The company’s 50 day simple moving average is $129.82 and its 200-day simple moving average is $109.73.

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

Insider Transactions at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the transaction, 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 SEC, which is accessible through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 407,646 shares of the company’s stock, valued at $49,647,206.34. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,333 shares of company stock worth $6,566,330. 9.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB raised its stake in Shake Shack by 4.3% during the 4th quarter. Nordea Investment Management AB now owns 76,884 shares of the company’s stock valued at $10,049,000 after purchasing an additional 3,186 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Shake Shack by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $96,000 after purchasing an additional 265 shares during the period. Principal Financial Group Inc. raised its position in shares of Shake Shack by 1.1% during the third quarter. Principal Financial Group Inc. now owns 189,229 shares of the company’s stock valued at $19,530,000 after buying an additional 2,043 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Shake Shack in the third quarter valued at about $249,000. Finally, Neo Ivy Capital Management acquired a new stake in Shake Shack during the third quarter worth about $142,000. Institutional investors and hedge funds 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.