Shake Shack (NYSE:SHAK) Sets New 12-Month High on Analyst Upgrade

Shake Shack Inc. (NYSE:SHAK - Get Free Report) shares hit a new 52-week high during trading on Monday after BTIG Research raised their price target on the stock from $120.00 to $125.00. BTIG Research currently has a buy rating on the stock. Shake Shack traded as high as $111.29 and last traded at $109.09, with a volume of 388089 shares trading hands. The stock had previously closed at $107.47.

Several other analysts have also issued reports on SHAK. JPMorgan Chase & Co. increased their price objective on Shake Shack from $65.00 to $100.00 and gave the stock an "underweight" rating in a report on Monday, March 4th. Barclays boosted their price target on Shake Shack from $92.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday. StockNews.com lowered shares of Shake Shack from a "hold" rating to a "sell" rating in a research report on Monday, March 4th. TD Cowen reissued a "buy" rating and issued a $125.00 target price on shares of Shake Shack in a research report on Thursday. Finally, Truist Financial increased their price target on shares of Shake Shack from $115.00 to $124.00 and gave the stock a "buy" rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $98.24.

Insider Transactions at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 23,966 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $100.13, for a total value of $2,399,715.58. Following the sale, the director now owns 526,471 shares of the company's stock, valued at approximately $52,715,541.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jeffrey Flug sold 304 shares of the company's stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $103.01, for a total transaction of $31,315.04. Following the completion of the transaction, the director now owns 3,754 shares of the company's stock, valued at $386,699.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Harris Meyer sold 23,966 shares of Shake Shack stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $100.13, for a total value of $2,399,715.58. Following the sale, the director now directly owns 526,471 shares in the company, valued at $52,715,541.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,608 shares of company stock worth $10,178,861. Company insiders own 10.06% of the company's stock.

Institutional Trading of Shake Shack

A number of hedge funds have recently modified their holdings of SHAK. Allspring Global Investments Holdings LLC acquired a new stake in shares of Shake Shack during the 1st quarter valued at about $25,000. GAMMA Investing LLC acquired a new stake in Shake Shack during the fourth quarter valued at approximately $32,000. Ramirez Asset Management Inc. bought a new stake in shares of Shake Shack in the 3rd quarter valued at approximately $35,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Shake Shack in the 1st quarter worth approximately $97,000. Finally, C M Bidwell & Associates Ltd. lifted its position in shares of Shake Shack by 122.6% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company's stock worth $65,000 after buying an additional 612 shares during the period. Institutional investors own 86.07% of the company's stock.

Shake Shack Trading Down 1.7 %

The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $102.46 and a 200 day moving average of $81.12. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 191.99, a price-to-earnings-growth ratio of 3.79 and a beta of 1.78.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.03. The business had revenue of $290.50 million during the quarter, compared to analysts' expectations of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) EPS. As a group, research analysts anticipate that Shake Shack Inc. will post 0.72 EPS for the current year.

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.