Morgan Stanley Boosts Shake Shack (NYSE:SHAK) Price Target to $122.00

Shake Shack (NYSE:SHAK - Get Free Report) had its price target increased by equities research analysts at Morgan Stanley from $109.00 to $122.00 in a report released on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential downside of 12.89% from the stock's previous close.

Several other equities research analysts have also recently weighed in on SHAK. KeyCorp initiated coverage on shares of Shake Shack in a research report on Monday, June 2nd. They set a "sector weight" rating for the company. Truist Financial increased their price objective on shares of Shake Shack from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Raymond James Financial reiterated a "strong-buy" rating and set a $140.00 price objective (down from $145.00) on shares of Shake Shack in a research report on Friday, May 2nd. Sanford C. Bernstein set a $166.00 price objective on shares of Shake Shack and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Shake Shack from $100.00 to $110.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $125.95.

Shake Shack Stock Performance

SHAK traded up $0.01 on Monday, reaching $140.06. The company had a trading volume of 27,169 shares, compared to its average volume of 1,204,064. Shake Shack has a fifty-two week low of $72.93 and a fifty-two week high of $144.65. The stock has a market cap of $5.98 billion, a P/E ratio of 499.65, a P/E/G ratio of 3.30 and a beta of 1.77. The company's fifty day moving average is $125.84 and its 200 day moving average is $111.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91.

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

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 3,956 shares of the business'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 owned 35,750 shares of the company's stock, valued at approximately $4,557,767.50. The trade was a 9.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Harris Meyer sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $140.07, for a total transaction of $2,801,400.00. Following the completion of the transaction, the director directly owned 367,984 shares of the company's stock, valued at approximately $51,543,518.88. This represents a 5.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,391 shares of company stock valued at $11,869,925. 9.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Shake Shack

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its stake in shares of Shake Shack by 939.3% in the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock valued at $26,000 after purchasing an additional 263 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Shake Shack in the 1st quarter valued at $26,000. Nemes Rush Group LLC purchased a new stake in shares of Shake Shack in the 4th quarter valued at $29,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Shake Shack in the 4th quarter valued at $32,000. Finally, Garde Capital Inc. purchased a new stake in shares of Shake Shack in the 1st quarter valued at $35,000. 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.

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