Shake Shack (NYSE:SHAK) Share Price Crosses Above 200-Day Moving Average - What's Next?

Shake Shack, Inc. (NYSE:SHAK - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $74.29 and traded as high as $78.65. Shake Shack shares last traded at $77.2670, with a volume of 1,750,606 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently issued reports on SHAK. Mizuho dropped their price objective on shares of Shake Shack from $90.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, October 30th. BNP Paribas Exane boosted their price objective on shares of Shake Shack from $77.00 to $81.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Piper Sandler lowered their price objective on shares of Shake Shack from $79.00 to $66.00 and set a "neutral" rating for the company in a report on Tuesday, July 14th. Royal Bank Of Canada initiated coverage on shares of Shake Shack in a research note on Tuesday, September 8th. They issued an "outperform" rating and a $89.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on shares of Shake Shack from $65.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, October 21st. Sixteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.00.

Shake Shack Trading Up 7.5%

The firm's 50 day moving average price is $65.19 and its 200 day moving average price is $74.29. The stock has a market capitalization of $3.31 billion, a P/E ratio of 75.02, a P/E/G ratio of 7.82 and a beta of 1.75. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.67 and a quick ratio of 1.64.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.06. The firm had revenue of $423.27 million for the quarter, compared to analyst estimates of $426.41 million. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%. The business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. As a group, equities research analysts expect that Shake Shack, Inc. will post 1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shake Shack

A number of institutional investors have recently added to or reduced their stakes in SHAK. Bank of America Corp DE lifted its holdings in shares of Shake Shack by 9.3% during the first quarter. Bank of America Corp DE now owns 899,013 shares of the company's stock valued at $79,536,000 after purchasing an additional 76,724 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Shake Shack by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 670,111 shares of the company's stock valued at $59,276,000 after purchasing an additional 16,439 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Shake Shack by 1.8% during the third quarter. Fisher Asset Management LLC now owns 636,738 shares of the company's stock valued at $37,364,000 after purchasing an additional 11,474 shares in the last quarter. Cannell & Spears LLC raised its holdings in shares of Shake Shack by 27.4% during the first quarter. Cannell & Spears LLC now owns 452,694 shares of the company's stock valued at $40,022,000 after purchasing an additional 97,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Shake Shack by 48.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 323,692 shares of the company's stock valued at $18,994,000 after buying an additional 106,075 shares during the period. Institutional investors own 86.07% of the company's stock.

About Shake Shack

Shake Shack operates a fast-casual restaurant business focused on burgers, chicken, hot dogs, crinkle-cut fries, shakes and frozen custard. Some locations also serve beer and wine. The company serves customers through restaurants and digital ordering, including delivery.

The business grew from a hot dog cart opened in New York City's Madison Square Park in 2001. Shake Shack opened its first permanent kiosk in the park in 2004 and has since expanded its restaurant operations.

Shake Shack serves customers in the United States and internationally.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.