JPMorgan Chase & Co. Boosts Shake Shack (NYSE:SHAK) Price Target to $102.00

Shake Shack (NYSE:SHAK - Free Report) had its target price upped by JPMorgan Chase & Co. from $100.00 to $102.00 in a report issued on Monday morning, Benzinga reports. They currently have an underweight rating on the stock.

SHAK has been the topic of a number of other reports. Raymond James upped their price target on Shake Shack from $90.00 to $115.00 and gave the stock a strong-buy rating in a research report on Friday, February 16th. Oppenheimer boosted their price target on Shake Shack from $108.00 to $120.00 and gave the company an outperform rating in a research note on Friday, March 22nd. TD Cowen restated a buy rating and issued a $125.00 price objective on shares of Shake Shack in a research note on Thursday, May 2nd. Wedbush upped their target price on Shake Shack from $100.00 to $110.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Finally, Barclays raised their price target on shares of Shake Shack from $92.00 to $108.00 and gave the stock an equal weight rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Shake Shack currently has an average rating of Hold and a consensus price target of $98.35.

Shake Shack Stock Down 1.1 %

Shares of SHAK traded down $1.18 during midday trading on Monday, reaching $102.10. 658,101 shares of the stock were exchanged, compared to its average volume of 947,278. The company has a market capitalization of $4.32 billion, a P/E ratio of 185.64, a PEG ratio of 5.06 and a beta of 1.78. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 0.52. Shake Shack has a 52 week low of $52.79 and a 52 week high of $111.29. The company's 50 day moving average is $102.40 and its two-hundred day moving average is $82.48.

Shake Shack (NYSE:SHAK - Get Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.03. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The business had revenue of $290.50 million for the quarter, compared to the consensus estimate of $291.00 million. During the same quarter last year, the firm posted ($0.01) EPS. The company's revenue for the quarter was up 14.7% on a year-over-year basis. On average, sell-side analysts anticipate that Shake Shack will post 0.73 earnings per share for the current year.

Insider Activity at Shake Shack

In related news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $108.05, for a total transaction of $32,847.20. Following the transaction, the director now owns 4,058 shares in the company, valued at $438,466.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Daniel Harris Meyer sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $95.25, for a total value of $2,857,500.00. Following the transaction, the director now directly owns 550,437 shares in the company, valued at approximately $52,429,124.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the business's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $108.05, for a total value of $32,847.20. Following the completion of the sale, the director now directly owns 4,058 shares in the company, valued at approximately $438,466.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,608 shares of company stock valued at $10,178,861. Corporate insiders own 10.06% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in Shake Shack during the first quarter worth about $25,000. GAMMA Investing LLC purchased a new position in shares of Shake Shack during the fourth quarter worth about $32,000. Ramirez Asset Management Inc. acquired a new position in Shake Shack during the third quarter worth approximately $35,000. C M Bidwell & Associates Ltd. increased its stake in Shake Shack by 122.6% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company's stock valued at $65,000 after purchasing an additional 612 shares during the period. Finally, Covestor Ltd increased its position in Shake Shack by 32,150.0% in the 1st quarter. Covestor Ltd now owns 645 shares of the company's stock valued at $67,000 after acquiring an additional 643 shares during the period. 86.07% 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, 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.