Shake Shack (NYSE:SHAK) Sets New 52-Week High - Time to Buy?

Shake Shack, Inc. (NYSE:SHAK - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $142.85 and last traded at $140.16, with a volume of 1092678 shares traded. The stock had previously closed at $141.95.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SHAK shares. Barclays boosted their target price on Shake Shack from $102.00 to $166.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Oppenheimer reaffirmed an "outperform" rating and issued a $160.00 price objective (up previously from $125.00) on shares of Shake Shack in a research report on Thursday, June 26th. Raymond James Financial restated a "strong-buy" rating and issued a $140.00 price target (down from $145.00) on shares of Shake Shack in a report on Friday, May 2nd. JPMorgan Chase & Co. upped their price target on shares of Shake Shack from $100.00 to $110.00 and gave the stock an "underweight" rating in a report on Wednesday, June 25th. Finally, BTIG Research downgraded shares of Shake Shack from a "buy" rating to a "neutral" rating in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $124.90.

Shake Shack Stock Down 1.5%

The firm has a market capitalization of $5.97 billion, a P/E ratio of 499.68, a PEG ratio of 3.35 and a beta of 1.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91. The business's fifty day moving average price is $125.84 and its two-hundred day moving average price is $111.48.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its earnings results 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 firm had revenue of $320.90 million during the quarter, compared to analyst estimates 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 was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned $0.13 earnings per share. Equities analysts expect that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

Insider Activity

In other Shake Shack news, Director Daniel Harris Meyer sold 14,200 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $140.31, for a total value of $1,992,402.00. Following the completion of the sale, the director owned 337,984 shares of the company's stock, valued at approximately $47,422,535.04. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Katherine Irene Fogertey sold 670 shares of Shake Shack stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $140.03, for a total transaction of $93,820.10. Following the completion of the sale, the chief financial officer owned 32,495 shares of the company's stock, valued at $4,550,274.85. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 87,391 shares of company stock valued at $11,869,925. Corporate insiders own 9.73% of the company's stock.

Institutional Investors Weigh In On Shake Shack

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Shake Shack by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company's stock worth $46,979,000 after buying an additional 8,429 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Shake Shack by 157.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,957 shares of the company's stock worth $525,000 after acquiring an additional 3,642 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Shake Shack by 6.2% during the fourth quarter. Janus Henderson Group PLC now owns 17,064 shares of the company's stock worth $2,216,000 after purchasing an additional 1,000 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Shake Shack during the fourth quarter worth about $260,000. Finally, Bessemer Group Inc. lifted its holdings in shares of Shake Shack by 60.7% during the first quarter. Bessemer Group Inc. now owns 5,874 shares of the company's stock worth $518,000 after purchasing an additional 2,218 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.