Shake Shack (NYSE:SHAK) Hits New 1-Year High After Analyst Upgrade

Shake Shack, Inc. (NYSE:SHAK - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after Barclays raised their price target on the stock from $102.00 to $166.00. Barclays currently has an overweight rating on the stock. Shake Shack traded as high as $140.97 and last traded at $139.31, with a volume of 489677 shares changing hands. The stock had previously closed at $133.90.

Other research analysts have also recently issued research reports about the company. UBS Group cut their price target on Shake Shack from $140.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Loop Capital raised shares of Shake Shack from a "hold" rating to a "buy" rating and set a $127.00 price target on the stock in a report on Tuesday, April 1st. BTIG Research lowered shares of Shake Shack from a "buy" rating to a "neutral" rating in a report on Monday, June 2nd. JPMorgan Chase & Co. increased their price target on shares of Shake Shack from $100.00 to $110.00 and gave the stock an "underweight" rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on Shake Shack from $120.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $123.95.

Insider Activity at Shake Shack

In other news, Director Daniel Harris Meyer sold 10,000 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $130.10, for a total value of $1,301,000.00. Following the transaction, the director now owns 396,636 shares in the company, valued at $51,602,343.60. This represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Katherine Irene Fogertey sold 3,956 shares of the firm'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 sale, 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. In the last 90 days, insiders sold 34,698 shares of company stock worth $4,499,820. 9.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

Several large investors have recently made changes to their positions in SHAK. Summit Financial LLC grew its position in Shake Shack by 0.7% in the first quarter. Summit Financial LLC now owns 13,180 shares of the company's stock worth $1,162,000 after acquiring an additional 97 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Shake Shack by 5.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company's stock worth $243,000 after purchasing an additional 100 shares in the last quarter. Redwood Investments LLC boosted its holdings in Shake Shack by 0.5% in the first quarter. Redwood Investments LLC now owns 23,231 shares of the company's stock worth $2,048,000 after purchasing an additional 110 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Shake Shack by 1.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,367 shares of the company's stock valued at $914,000 after buying an additional 133 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Shake Shack by 5.9% in the first quarter. Xponance Inc. now owns 2,868 shares of the company's stock worth $253,000 after buying an additional 159 shares during the last quarter. Institutional investors own 86.07% of the company's stock.

Shake Shack Stock Up 3.1%

The company has a market cap of $5.89 billion, a price-to-earnings ratio of 494.23, a PEG ratio of 3.17 and a beta of 1.77. The business has a 50-day simple moving average of $113.27 and a two-hundred day simple moving average of $110.77. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.50.

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

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.

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