Shake Shack (NYSE:SHAK) Given New $77.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its Shake Shack price target from $75 to $77 while maintaining a neutral rating, implying about 0.2% upside from the cited share price.
• Analysts overall give the stock a “Moderate Buy” consensus, with an average price target of $87.09; 16 rate it Buy and 12 rate it Hold.
• Shake Shack beat quarterly EPS expectations, reporting $0.40 versus $0.34 expected, but revenue of $423.27 million fell short of estimates. Revenue was up 15.2% year over year.

Shake Shack (NYSE:SHAK - Get Free Report) had its price target hoisted by analysts at JPMorgan Chase & Co. from $75.00 to $77.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 0.21% from the company's current price.

A number of other equities research analysts have also recently commented on the stock. Robert W. Baird raised shares of Shake Shack to a "hold" rating in a research note on Monday, August 24th. TD Cowen reissued a "hold" rating on shares of Shake Shack in a report on Wednesday, August 5th. Wells Fargo & Company raised their price target on shares of Shake Shack from $65.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 21st. UBS Group lifted their price objective on shares of Shake Shack from $68.00 to $73.00 and gave the company a "neutral" rating in a report on Thursday, October 22nd. Finally, Piper Sandler lowered their target price on shares of Shake Shack from $79.00 to $66.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 14th. Sixteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $87.09.

Shake Shack Stock Down 0.4%

NYSE SHAK traded down $0.31 during midday trading on Tuesday, hitting $76.84. 309,273 shares of the company traded hands, compared to its average volume of 1,720,997. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.67 and a quick ratio of 1.64. The company has a market cap of $3.29 billion, a PE ratio of 74.79, a price-to-earnings-growth ratio of 7.82 and a beta of 1.75. The company's 50-day simple moving average is $65.19 and its 200-day simple moving average is $74.29. Shake Shack has a 52 week low of $51.60 and a 52 week high of $107.46.

Shake Shack (NYSE:SHAK - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.06. The company had revenue of $423.27 million during the quarter, compared to analysts' expectations of $426.41 million. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%. The firm's revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. As a group, equities research analysts forecast that Shake Shack will post 1.14 earnings per share for the current year.

Institutional Investors Weigh In On Shake Shack

Institutional investors have recently modified their holdings of the company. Edgestream Partners L.P. purchased a new position in Shake Shack during the 3rd quarter valued at about $4,984,000. White Pine Capital LLC acquired a new position in Shake Shack during the third quarter worth about $1,412,000. Hantz Financial Services Inc. raised its position in Shake Shack by 47.0% during the third quarter. Hantz Financial Services Inc. now owns 1,964 shares of the company's stock worth $115,000 after acquiring an additional 628 shares during the last quarter. Diversified Trust Co purchased a new stake in shares of Shake Shack in the third quarter valued at about $482,000. Finally, Fisher Asset Management LLC lifted its holdings in shares of Shake Shack by 1.8% in the third quarter. Fisher Asset Management LLC now owns 636,738 shares of the company's stock valued at $37,364,000 after purchasing an additional 11,474 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Shake Shack Company Profile

Shake Shack operates a fast-casual restaurant business focused on burgers, chicken, hot dogs, crinkle-cut fries, shakes and frozen custard. Some locations also serve beer and wine. The company serves customers through restaurants and digital ordering, including delivery.

The business grew from a hot dog cart opened in New York City's Madison Square Park in 2001. Shake Shack opened its first permanent kiosk in the park in 2004 and has since expanded its restaurant operations.

Shake Shack serves customers in the United States and internationally.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.