Shake Shack (NYSE:SHAK) had its price target hoisted by equities researchers at Morgan Stanley from $69.00 to $87.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential downside of 23.09% from the company's current price.
A number of other analysts have also issued reports on the stock. Truist Financial lifted their price objective on shares of Shake Shack from $64.00 to $95.00 in a research note on Thursday, January 14th. Loop Capital boosted their price objective on shares of Shake Shack from $83.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, January 13th. JPMorgan Chase & Co. raised their target price on Shake Shack from $51.00 to $55.00 and gave the company an "underweight" rating in a research note on Tuesday, October 20th. Deutsche Bank Aktiengesellschaft boosted their price target on Shake Shack from $55.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, November 2nd. Finally, The Goldman Sachs Group began coverage on Shake Shack in a research note on Tuesday. They set a "neutral" rating and a $107.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of "Hold" and a consensus target price of $75.65.
Shares of SHAK stock traded up $1.86 on Tuesday, reaching $113.12. 17,809 shares of the stock were exchanged, compared to its average volume of 722,844. The stock has a market cap of $4.69 billion, a P/E ratio of -168.83, a price-to-earnings-growth ratio of 35.53 and a beta of 1.78. The firm has a 50 day moving average of $87.88 and a two-hundred day moving average of $69.39. Shake Shack has a 1-year low of $30.01 and a 1-year high of $116.65.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, October 29th. The company reported ($0.11) EPS for the quarter, topping the Zacks' consensus estimate of ($0.21) by $0.10. Shake Shack had a negative return on equity of 5.11% and a negative net margin of 4.80%. The company had revenue of $130.40 million for the quarter, compared to analysts' expectations of $125.43 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The firm's quarterly revenue was down 17.5% on a year-over-year basis. As a group, equities analysts forecast that Shake Shack will post -0.67 EPS for the current fiscal year.
In related news, COO Zach Koff sold 2,920 shares of the stock in a transaction dated Tuesday, January 12th. The shares were sold at an average price of $97.50, for a total value of $284,700.00. Following the sale, the chief operating officer now owns 21,065 shares of the company's stock, valued at approximately $2,053,837.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Randall J. Garutti sold 13,596 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $75.04, for a total transaction of $1,020,243.84. Following the completion of the sale, the chief executive officer now directly owns 65,487 shares in the company, valued at approximately $4,914,144.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 443,676 shares of company stock worth $34,422,282. Insiders own 14.98% of the company's stock.
Institutional investors have recently added to or reduced their stakes in the business. CWM LLC acquired a new position in Shake Shack during the 3rd quarter valued at about $36,000. Prospera Financial Services Inc acquired a new position in shares of Shake Shack during the 3rd quarter valued at about $62,000. HM Payson & Co. acquired a new position in Shake Shack during the third quarter valued at approximately $71,000. Exane Derivatives acquired a new position in Shake Shack in the 3rd quarter valued at $80,000. Finally, Strs Ohio increased its stake in shares of Shake Shack by 133.3% in the third quarter. Strs Ohio now owns 2,100 shares of the company's stock worth $135,000 after purchasing an additional 1,200 shares during the period. 89.61% of the stock is currently owned by hedge funds and other institutional investors.
Shake Shack Company Profile
Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.
Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers
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