Shake Shack (NYSE:SHAK) Rating Lowered to "Neutral" at BTIG Research

Shake Shack (NYSE:SHAK - Get Free Report) was downgraded by equities researchers at BTIG Research from a "buy" rating to a "neutral" rating in a research note issued on Monday, MarketBeat.com reports.

SHAK has been the subject of several other research reports. Oppenheimer lowered their target price on shares of Shake Shack from $155.00 to $125.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. TD Cowen cut shares of Shake Shack from a "buy" rating to a "hold" rating and set a $105.00 price objective on the stock. in a report on Monday, May 19th. UBS Group dropped their price objective on shares of Shake Shack from $140.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their target price on shares of Shake Shack from $105.00 to $100.00 and set an "underweight" rating for the company in a research report on Monday, May 5th. Finally, Wells Fargo & Company increased their target price on shares of Shake Shack from $95.00 to $115.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $115.40.

Shake Shack Stock Up 2.2%

Shares of NYSE:SHAK traded up $2.74 during midday trading on Monday, reaching $129.69. The company had a trading volume of 895,936 shares, compared to its average volume of 1,166,513. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.98. The stock has a market capitalization of $5.53 billion, a P/E ratio of 563.61 and a beta of 1.61. Shake Shack has a one year low of $72.93 and a one year high of $139.89. The stock's fifty day moving average price is $99.70 and its 200-day moving average price is $110.80.

Shake Shack (NYSE:SHAK - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a net margin of 0.81% and a return on equity of 8.40%. The business had revenue of $320.90 million for the quarter, compared to the consensus estimate of $330.24 million. During the same quarter in the previous year, the firm earned $0.13 EPS. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts expect that Shake Shack will post 1.26 earnings per share for the current fiscal year.

Insider Activity at Shake Shack

In other news, 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 sale, the director now directly owns 396,636 shares in the company, valued at approximately $51,602,343.60. This trade represents a 2.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 20,180 shares of company stock valued at $2,622,709. Corporate insiders own 9.73% of the company's stock.

Institutional Investors Weigh In On Shake Shack

Hedge funds have recently made changes to their positions in the company. GDS Wealth Management boosted its position in shares of Shake Shack by 253.6% during the fourth quarter. GDS Wealth Management now owns 14,277 shares of the company's stock valued at $1,853,000 after purchasing an additional 10,239 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Shake Shack by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company's stock worth $46,979,000 after acquiring an additional 8,429 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Shake Shack by 6.2% in the fourth quarter. Janus Henderson Group PLC now owns 17,064 shares of the company's stock worth $2,216,000 after acquiring an additional 1,000 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Shake Shack in the fourth quarter worth $260,000. Finally, Rhumbline Advisers raised its stake in shares of Shake Shack by 0.3% in the fourth quarter. Rhumbline Advisers now owns 106,129 shares of the company's stock worth $13,776,000 after purchasing an additional 278 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors.

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.