Shake Shack (NYSE:SHAK) Reaches New 12-Month High - Here's What Happened

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Shake Shack from $100.00 to $110.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 25th. Barclays lifted their price target on shares of Shake Shack from $102.00 to $166.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Loop Capital reissued a "hold" rating and set a $127.00 price target on shares of Shake Shack in a research note on Tuesday. KeyCorp assumed coverage on shares of Shake Shack in a research note on Monday, June 2nd. They set a "sector weight" rating on the stock. Finally, UBS Group decreased their price target on shares of Shake Shack from $140.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $124.43.

Shake Shack Trading Down 1.0%

The stock has a market cap of $5.93 billion, a P/E ratio of 496.61, a PEG ratio of 3.36 and a beta of 1.77. The company has a current ratio of 1.91, a quick ratio of 1.88 and a debt-to-equity ratio of 0.50. The stock's fifty day moving average price is $121.80 and its 200 day moving average price is $110.94.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). The business had revenue of $320.90 million for 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%. The business's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 EPS. Equities research analysts expect that Shake Shack, Inc. will post 1.26 earnings per share for the current year.

Insider Transactions at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 20,000 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $140.07, for a total value of $2,801,400.00. Following the completion of the transaction, the director owned 367,984 shares of the company's stock, valued at approximately $51,543,518.88. The trade was a 5.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 3,956 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $127.49, for a total value of $504,350.44. Following the completion of the transaction, the chief financial officer directly owned 35,750 shares of the company's stock, valued at approximately $4,557,767.50. This trade represents a 9.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 84,698 shares of company stock valued at $11,490,296. 9.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently made changes to their positions in SHAK. Driehaus Capital Management LLC purchased a new stake in shares of Shake Shack during the 4th quarter valued at about $66,349,000. Nuveen LLC purchased a new stake in shares of Shake Shack during the 1st quarter valued at about $42,802,000. Ameriprise Financial Inc. increased its position in shares of Shake Shack by 144.3% during the 1st quarter. Ameriprise Financial Inc. now owns 791,857 shares of the company's stock valued at $69,805,000 after purchasing an additional 467,748 shares during the last quarter. Invesco Ltd. increased its position in shares of Shake Shack by 30.7% during the 4th quarter. Invesco Ltd. now owns 1,245,093 shares of the company's stock valued at $161,613,000 after purchasing an additional 292,348 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Shake Shack during the 1st quarter valued at about $17,064,000. Hedge funds and other 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.