Shake Shack (NYSE:SHAK) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Shake Shack’s price target from $77 to $75 while maintaining a “neutral” rating, implying approximately 30% upside from the stock’s prior close.
• Analyst sentiment remains broadly positive: MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $89.29, based on 16 Buy and 12 Hold ratings.
• Shake Shack shares traded at $57.68, while the company’s latest quarterly results exceeded expectations with earnings per share of $0.43 and revenue of $417.62 million; institutional investors own 86.07% of the stock.

Shake Shack (NYSE:SHAK - Get Free Report) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $77.00 to $75.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 30.03% from the stock's previous close.

A number of other brokerages have also weighed in on SHAK. Wall Street Zen upgraded Shake Shack from a "sell" rating to a "hold" rating in a research report on Saturday, September 12th. TD Cowen reiterated a "hold" rating on shares of Shake Shack in a research report on Wednesday, August 5th. Gordon Haskett cut their price target on Shake Shack from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, June 3rd. Piper Sandler lowered their price objective on Shake Shack from $79.00 to $66.00 and set a "neutral" rating for the company in a research note on Tuesday, July 14th. Finally, Mizuho set a $90.00 price objective on Shake Shack in a research note on Thursday, August 6th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $89.29.

Shake Shack Price Performance

SHAK stock traded up $0.16 during trading on Tuesday, reaching $57.68. 121,974 shares of the company were exchanged, compared to its average volume of 1,767,730. The company has a 50-day moving average of $65.66 and a two-hundred day moving average of $71.08. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 61.38, a P/E/G ratio of 6.12 and a beta of 1.66. Shake Shack has a twelve month low of $51.60 and a twelve month high of $107.46. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.67 and a quick ratio of 1.64.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. The business had revenue of $417.62 million during the quarter, compared to the consensus estimate of $417.18 million. Shake Shack had a net margin of 2.56% and a return on equity of 9.29%. The firm's revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. As a group, equities analysts predict that Shake Shack will post 1.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shake Shack

Institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new position in shares of Shake Shack during the second quarter worth about $47,000. Hedeker Wealth LLC acquired a new stake in Shake Shack during the 2nd quarter valued at approximately $2,843,000. IFP Advisors Inc increased its position in Shake Shack by 43.0% during the 2nd quarter. IFP Advisors Inc now owns 924 shares of the company's stock valued at $52,000 after purchasing an additional 278 shares during the period. Nykredit A S bought a new position in Shake Shack during the 2nd quarter worth approximately $123,000. Finally, Fund 1 Investments LLC bought a new position in Shake Shack during the 2nd quarter worth approximately $840,000. Institutional investors own 86.07% of the company's stock.

About Shake Shack

Shake Shack Inc NYSE: SHAK operates a global chain of fast-casual restaurants known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, shakes, and other beverages. Its menu also includes beer and wine at select locations, with an emphasis on premium ingredients and hospitality-focused service.

The company traces its origins to a hot dog cart opened in New York City's Madison Square Park in 2001 as part of a park revitalization project. The first permanent Shake Shack restaurant opened in the park in 2004.

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