Bank of America Forecasts Strong Price Appreciation for Shake Shack (NYSE:SHAK) Stock

Shake Shack (NYSE:SHAK - Free Report) had its price target boosted by Bank of America from $112.00 to $134.00 in a research report released on Wednesday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group raised their price objective on shares of Shake Shack from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. BTIG Research cut Shake Shack from a "buy" rating to a "neutral" rating in a report on Monday, June 2nd. Robert W. Baird boosted their price target on Shake Shack from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. UBS Group lowered their price objective on Shake Shack from $140.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, Wells Fargo & Company lifted their target price on Shake Shack from $95.00 to $115.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $122.29.

Shake Shack Stock Performance

Shake Shack stock traded up $5.11 during mid-day trading on Wednesday, hitting $139.01. 489,677 shares of the company's stock traded hands, compared to its average volume of 1,463,144. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.91 and a quick ratio of 1.88. The firm has a 50 day simple moving average of $113.27 and a two-hundred day simple moving average of $110.77. Shake Shack has a fifty-two week low of $72.93 and a fifty-two week high of $140.97. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 496.39, a P/E/G ratio of 3.17 and a beta of 1.77.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $320.90 million during the quarter, compared to the consensus estimate of $330.24 million. Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. Shake Shack's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. On average, research analysts expect that Shake Shack will post 1.26 EPS for the current fiscal year.

Insider Buying and Selling at Shake Shack

In related news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $130.10, for a total transaction of $1,301,000.00. Following the sale, the director now directly owns 396,636 shares of the company's stock, valued at approximately $51,602,343.60. The trade was a 2.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Katherine Irene Fogertey sold 3,956 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $127.49, for a total transaction of $504,350.44. Following the transaction, the chief financial officer now owns 35,750 shares of the company's stock, valued at approximately $4,557,767.50. This represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,698 shares of company stock worth $4,499,820 over the last three months. Corporate insiders own 9.73% of the company's stock.

Institutional Trading of Shake Shack

A number of hedge funds and other institutional investors have recently modified their holdings of SHAK. Farther Finance Advisors LLC grew its position in Shake Shack by 939.3% during the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock worth $26,000 after acquiring an additional 263 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Shake Shack during the first quarter valued at about $26,000. Nemes Rush Group LLC bought a new stake in shares of Shake Shack during the fourth quarter worth about $29,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Shake Shack in the fourth quarter valued at approximately $32,000. Finally, Garde Capital Inc. acquired a new position in shares of Shake Shack in the first quarter valued at approximately $35,000. Institutional investors own 86.07% of the company's stock.

About Shake Shack

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.