Shake Shack (NYSE:SHAK) had its price objective boosted by analysts at JPMorgan Chase & Co. from $47.00 to $51.00 in a report issued on Wednesday, The Fly reports. The brokerage currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 4.51% from the company's previous close.
A number of other research firms have also weighed in on SHAK. BTIG Research initiated coverage on shares of Shake Shack in a report on Monday, April 20th. They set a "neutral" rating for the company. Goldman Sachs Group reiterated a "hold" rating on shares of Shake Shack in a report on Wednesday, March 25th. Wedbush reiterated a "hold" rating and set a $50.00 target price on shares of Shake Shack in a report on Tuesday, May 5th. MKM Partners increased their target price on shares of Shake Shack from $50.00 to $59.00 in a report on Tuesday, May 5th. Finally, William Blair restated a "buy" rating on shares of Shake Shack in a report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of "Hold" and a consensus price target of $57.50.
Shares of Shake Shack stock traded down $2.76 during trading on Wednesday, hitting $53.41. The stock had a trading volume of 3,916 shares, compared to its average volume of 1,519,983. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 104.73 and a beta of 1.81. Shake Shack has a 12 month low of $30.01 and a 12 month high of $105.84. The business's 50-day moving average is $53.94 and its 200 day moving average is $55.89. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 1.15.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.01 by $0.01. Shake Shack had a return on equity of 7.45% and a net margin of 2.70%. The firm had revenue of $143.17 million for the quarter, compared to analysts' expectations of $145.31 million. During the same period last year, the firm earned $0.13 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities analysts expect that Shake Shack will post -0.45 EPS for the current year.
In other Shake Shack news, Director Daniel Harris Meyer sold 25,000 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $55.16, for a total value of $1,379,000.00. Following the completion of the sale, the director now directly owns 380 shares of the company's stock, valued at approximately $20,960.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 100,000 shares of company stock worth $5,444,750. Insiders own 21.85% of the company's stock.
Institutional investors have recently added to or reduced their stakes in the business. Eminence Capital LP lifted its position in shares of Shake Shack by 137.9% in the 1st quarter. Eminence Capital LP now owns 2,592,957 shares of the company's stock worth $97,858,000 after purchasing an additional 1,502,957 shares during the period. Lord Abbett & CO. LLC grew its position in Shake Shack by 51.2% during the first quarter. Lord Abbett & CO. LLC now owns 1,962,436 shares of the company's stock valued at $74,063,000 after buying an additional 664,733 shares during the period. Darsana Capital Partners LP acquired a new stake in Shake Shack during the first quarter valued at $18,870,000. Wasatch Advisors Inc. grew its position in Shake Shack by 50.7% during the first quarter. Wasatch Advisors Inc. now owns 701,106 shares of the company's stock valued at $26,460,000 after buying an additional 235,755 shares during the period. Finally, Nuveen Asset Management LLC grew its position in Shake Shack by 395.8% during the first quarter. Nuveen Asset Management LLC now owns 226,103 shares of the company's stock valued at $8,533,000 after buying an additional 180,502 shares during the period. 80.96% of the stock is 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, 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.
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