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The Goldman Sachs Group Initiates Coverage on Shake Shack (NYSE:SHAK)

Shake Shack logo with Retail/Wholesale background

Research analysts at The Goldman Sachs Group started coverage on shares of Shake Shack (NYSE:SHAK - Get Free Report) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $110.00 price target on the stock. The Goldman Sachs Group's target price would indicate a potential upside of 18.29% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Shake Shack from a "hold" rating to a "sell" rating in a research note on Monday, March 4th. Morgan Stanley raised their price target on shares of Shake Shack from $88.00 to $105.00 and gave the company an "equal weight" rating in a research note on Friday, April 12th. Raymond James lifted their target price on shares of Shake Shack from $90.00 to $115.00 and gave the stock a "strong-buy" rating in a research report on Friday, February 16th. TD Cowen reiterated a "buy" rating and set a $125.00 target price on shares of Shake Shack in a research report on Thursday, June 6th. Finally, Wedbush lifted their target price on shares of Shake Shack from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $99.17.


Read Our Latest Stock Analysis on SHAK

Shake Shack Price Performance

Shake Shack stock traded up $0.25 during trading hours on Thursday, reaching $92.99. 810,943 shares of the stock were exchanged, compared to its average volume of 899,474. The company has a market cap of $3.93 billion, a P/E ratio of 170.16, a price-to-earnings-growth ratio of 3.63 and a beta of 1.79. 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 twelve month low of $52.79 and a twelve month high of $111.29. The stock has a 50 day moving average of $98.88 and a two-hundred day moving average of $88.42.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $290.50 million for the quarter, compared to the consensus estimate of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The business's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. Equities analysts expect that Shake Shack will post 0.74 EPS for the current fiscal year.

Insider Activity

In other news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value of $31,315.04. Following the completion of the sale, the director now owns 3,754 shares in the company, valued at approximately $386,699.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.73% of the stock is currently owned by company insiders.

Institutional Trading of Shake Shack

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. 12 West Capital Management LP increased its stake in Shake Shack by 82.2% during the 3rd quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company's stock valued at $96,373,000 after purchasing an additional 748,789 shares in the last quarter. Linonia Partnership LP purchased a new position in Shake Shack during the 4th quarter worth $41,046,000. Qube Research & Technologies Ltd boosted its holdings in Shake Shack by 130.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company's stock worth $25,370,000 after acquiring an additional 246,952 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Shake Shack by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 309,641 shares of the company's stock worth $22,951,000 after acquiring an additional 12,362 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Shake Shack by 31.4% during the 4th quarter. Principal Financial Group Inc. now owns 263,256 shares of the company's stock worth $19,513,000 after acquiring an additional 62,897 shares during the last quarter. Institutional investors own 86.07% of the company's stock.

Shake Shack Company Profile

(Get Free Report)

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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