Truist Financial Issues Positive Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK - Free Report) had its price objective lifted by Truist Financial from $150.00 to $160.00 in a research note released on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Sanford C. Bernstein set a $166.00 target price on shares of Shake Shack and gave the stock an "overweight" rating in a report on Thursday, June 26th. Robert W. Baird increased their price objective on Shake Shack from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Bank of America boosted their target price on Shake Shack from $112.00 to $134.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. KeyCorp initiated coverage on Shake Shack in a research report on Monday, June 2nd. They issued a "sector weight" rating on the stock. Finally, Stifel Nicolaus cut their target price on shares of Shake Shack from $120.00 to $97.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Shake Shack has an average rating of "Hold" and an average price target of $124.90.

Shake Shack Trading Up 1.0%

Shares of NYSE:SHAK traded up $1.40 during mid-day trading on Wednesday, reaching $140.52. 1,403,392 shares of the company were exchanged, compared to its average volume of 1,206,594. Shake Shack has a 1 year low of $72.93 and a 1 year high of $142.85. 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's 50-day simple moving average is $123.87 and its 200 day simple moving average is $111.34. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 501.86, a P/E/G ratio of 3.29 and a beta of 1.77.

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

Insiders Place Their Bets

In related news, CFO Katherine Irene Fogertey sold 3,956 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $127.49, for a total transaction of $504,350.44. Following the transaction, the chief financial officer owned 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $140.07, for a total transaction of $2,801,400.00. Following the sale, the director owned 367,984 shares in the company, valued at approximately $51,543,518.88. This trade represents a 5.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,391 shares of company stock valued at $11,869,925. Insiders own 9.73% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SHAK. Farther Finance Advisors LLC lifted its position in Shake Shack by 939.3% during the first quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock worth $26,000 after buying an additional 263 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of Shake Shack during the 1st quarter valued at about $26,000. Nemes Rush Group LLC acquired a new position in shares of Shake Shack during the 4th quarter valued at about $29,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Shake Shack during the 4th quarter worth about $32,000. Finally, Garde Capital Inc. acquired a new stake in shares of Shake Shack in the first quarter worth approximately $35,000. 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.