Barclays Issues Positive Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK - Free Report) had its price target raised by Barclays from $102.00 to $166.00 in a research note published on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on the stock. BTIG Research downgraded shares of Shake Shack from a "buy" rating to a "neutral" rating in a research report on Monday, June 2nd. TD Securities reiterated a "hold" rating and set a $105.00 target price on shares of Shake Shack in a research note on Monday, May 19th. Oppenheimer lowered their price target on Shake Shack from $155.00 to $125.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group upped their price objective on Shake Shack from $120.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company lifted their target price on Shake Shack from $95.00 to $115.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shake Shack currently has an average rating of "Hold" and an average target price of $123.95.

Shake Shack Stock Performance

Shares of NYSE SHAK traded up $4.56 during trading hours on Thursday, reaching $138.46. The stock had a trading volume of 1,652,532 shares, compared to its average volume of 1,195,556. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 494.50, a PEG ratio of 3.17 and a beta of 1.77. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.50. Shake Shack has a fifty-two week low of $72.93 and a fifty-two week high of $140.80. The firm has a 50-day moving average of $113.27 and a 200-day moving average of $110.77.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). The firm had revenue of $320.90 million during the quarter, compared to analysts' expectations of $330.24 million. Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. Shake Shack's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. Equities research analysts predict that Shake Shack will post 1.26 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Katherine Irene Fogertey sold 3,956 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $127.49, for a total transaction of $504,350.44. Following the completion of the transaction, the chief financial officer now directly owns 35,750 shares of the company's stock, valued at $4,557,767.50. This trade represents a 9.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $130.10, for a total value of $1,301,000.00. Following the transaction, the director now owns 396,636 shares of the company's stock, valued at $51,602,343.60. This represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,698 shares of company stock worth $4,499,820 in the last three months. Corporate insiders own 9.73% of the company's stock.

Hedge Funds Weigh In On Shake Shack

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Shake Shack by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company's stock valued at $574,497,000 after acquiring an additional 49,883 shares during the last quarter. Invesco Ltd. lifted its holdings in Shake Shack by 2.0% in the 1st quarter. Invesco Ltd. now owns 1,269,876 shares of the company's stock valued at $111,965,000 after purchasing an additional 24,783 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Shake Shack by 17.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company's stock worth $116,078,000 after purchasing an additional 134,475 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Shake Shack by 144.3% during the 1st quarter. Ameriprise Financial Inc. now owns 791,857 shares of the company's stock worth $69,805,000 after purchasing an additional 467,748 shares during the last quarter. Finally, Van Berkom & Associates Inc. grew its holdings in shares of Shake Shack by 19.0% during the first quarter. Van Berkom & Associates Inc. now owns 785,594 shares of the company's stock worth $69,266,000 after buying an additional 125,357 shares in the last quarter. Hedge funds and other institutional investors 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.